Nagui has major problems. The presenter of Don’t forget the lyrics he is a multimillionaire, but his fortune is illiquid. For the most part, it is made up of shares of the Banijay Group [*], the Stéphane Courbit group to which Nagui sold his company Air Productions in 2009. At the end of 2018, the facilitator held 5.3% of the capital of Banijay Group, a stake then valued at 23 million euros. Explanation: The host preferred to receive part of the price paid for his production company in stock rather than cash. This company produces its successful shows Don’t forget the lyrics Where is it Calibrated for France 2. In total, public channel orders to this company would amount to over € 30 million per year, according to Mediaparty.
But sometimes Nagui needs some money to make ends meet. In the fall, he sold 0.1% of the Banijay group, which earned him 1.26 million euros, according to information from Capital. The shares were repurchased by the group itself.
In the past, Nagui had used another solution to get pocket money. He took bank loans backed by his shares in the Banijay group. Thus, in 2017, then in 2018, he borrowed 2 million euros from Société Générale in one year at the rate of 1.5%, pledging 14% of Holding Fam, his personal company that owns the shares of the Group. Banijay. . Holding Fam was therefore valued at 14 million euros on this occasion.
These liquidity problems will last a while longer. It is true that FL Entertainment, the holding company of Stéphane Courbit which owns 89.5% of Banijay Group, will be introduced on 1 July on the Amsterdam Stock Exchange. The shares of FL Entertainment will therefore become easily tradable on the market. But, at this stage, there are no plans to convert Banijay Group shares into FL Entertainment shares, a spokesperson said. The minority shareholders (Nagui, Cyril Hanouna, CEO Marco Bassetti, etc.), who hold 10.5% of Banijay Group, will therefore have to wait a little longer …
Either way, Nagui was right to be patient. Indeed, the value of Banijay Group has continued to grow. Its capital (excluding debt) was valued at € 465 million in 2018, then € 1 billion in 2021, when Nagui sold 0.1%. Today the IPO values it at around 2 billion euros (5 billion with debt).
Explanation: Stéphane Courbit’s group has developed well, subsequently taking over its competitors Zodiak and then Endemol, making it the first independent manufacturer in the world. After being shaken by Covid, the Banijay Group has returned to growth (see figures below). In 2021, 69% of its turnover derives from the production of streaming programs, 13% from the production of fiction, the rest from the distribution of programs. Video on demand platforms now account for 30% of revenue, with the Netflix series for example Young Wallanderor for Amazon Prime a Mexican remake of I love Lucia or reality show Hunting for celebrities.
In 2021, Banijay’s French operations alone generated a gross operating surplus of € 56 million on a turnover of € 250 million. Banijay Productions France is preparing in particular a new program for W9 called the game.
These developments have also strengthened the remuneration of Stéphane Courbit, which is indexed to the results of the Banijay Group. It amounts to 0.19% of turnover, plus 1% of gross operating margin, with a maximum ceiling of 7.5 million euros per year. Thanks to this, this remuneration went from 1.6 million euros in 2014 to 4.5 million between 2016 and 2019, then 5.5 million in 2020 and finally 7.5 million in 2021. Stéphane Courbit also receives a another salary as boss of Betclic (online games). In all, he received (through his family company Lov Group Invest) a total of € 14 million last year.
When questioned, neither Nagui nor his press officer François Doux replied.
[*] Vivendi, owner of Capital, indirectly holds 29.4% of the Banijay Group
The results of the Banijay Group (in millions of euros)
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