In the wake of the\u00a0Banijay-All3Media $8 billion\u00a0mega-merger, Zucker told me: \u201cThe UAE has been a fantastic investor, a great shareholder, and\u00a0that\u2019s\u00a0because they are interested in media.\u00a0<\/p>\n
\u201cThey\u2019re\u00a0patient with their investments, and\u00a0they\u2019re\u00a0willing to take chances on the global stage. And\u00a0that\u2019s\u00a0just an incredible combination for someone\u00a0who\u2019s\u00a0looking to invest in media.\u201d\u00a0<\/p>\n
As CEO of\u00a0RedBird\u00a0IMI\u2014a joint venture between\u00a0RedBird\u00a0Capital Partners of New York and\u00a0Abu Dhabi\u2019s\u00a0International Media Investments (IMI), owner of\u202fThe National\u202f<\/em>and Sky News Arabia\u2014Zucker played an instrumental role in getting the merger across the finish line.\u00a0\u00a0<\/p>\n RedBird\u00a0IMI previously\u00a0acquired\u00a0All3Media in early 2024\u00a0for \u00a31.15 billion ($1.5 billion)\u2013its largest deal at the time.\u00a0<\/p>\n He will now assume the role of\u00a0chairman\u00a0of the new entity, which will\u00a0operate\u00a0under the name Banijay Entertainment, and will be the world\u2019s largest independent production company, spanning 25 countries and encompassing more than 170 production and live-events companies.\u00a0\u00a0<\/p>\n Zucker talked up opportunities to tap into \u201cthe\u00a0tremendous number of stories from the region that have yet to be told, particularly in the UAE\u201d.\u00a0Banijay already has\u00a0several productions underway in the\u00a0country\u00a0that will continue.\u00a0<\/p>\n Zucker has\u00a0been vocal about his view that live events and experiences will be an important growth area for Banijay\u00a0in the years ahead\u2014and the Gulf\u00a0will be\u00a0no exception.\u00a0\u00a0<\/p>\n \u201cCertainly, we see huge potential in sports,\u201d\u00a0he\u00a0said, highlighting that upcoming major regional sporting events, such as Saudi Arabia\u2019s hosting of the FIFA World Cup\u00a0in\u00a02034, are \u201cvery\u00a0much\u00a0opportunities that we can hopefully be part of\u201d.\u00a0\u00a0<\/p>\n The company has already produced high-profile live events, including the opening ceremonies for the\u00a0Milano Cortina Winter Olympics in February and the FIFA World Cup in the U.S.,\u00a0Mexico\u00a0and Canada.\u00a0\u00a0<\/p>\n He is also keen to\u00a0extend\u00a0Banijay\u2019s\u00a0brands into gaming and immersive entertainment\u2014areas that\u00a0Gulf countries are\u00a0betting big on for future growth.\u00a0\u00a0<\/p>\n Driven by multi-billion-dollar investments from both Saudi Arabia and the UAE, the region is rapidly transforming into a lucrative hub for video games and esports.\u00a0\u00a0<\/p>\n Looking ahead, Zucker will no doubt be hoping that the path to doing business in the UAE\u00a0doesn\u2019t\u00a0hit any road bumps this time around.\u00a0\u00a0<\/p>\n Readers will recall when\u00a0RedBird\u00a0IMI was forced to abandon its final \u00a3500 million ($666 million) bid for The Telegraph,\u00a0<\/em>a British daily broadsheet newspaper, in November 2025,\u00a0following political opposition and new UK rules restricting foreign state ownership of media companies.\u00a0Under that deal, Abu Dhabi-based IMI would have taken a 15% stake in Telegraph Media Group.\u00a0<\/p>\n You can read my full interview with Zucker and analysis of what the merger means for the Gulf in my piece here.<\/p>\n And watch out for a big exclusive from me later this week\u00a0on Fortune.com<\/em>.<\/p>\n Melissa Hancock<\/strong> The U.S.-Iran conflict has taken another dramatic turn. After 13 consecutive nights of airstrikes, the\u00a0<\/span>U.S. unexpectedly called off its bombing campaign last Friday,<\/span>\u00a0while Iran said it would pause its attacks but\u00a0<\/span>insisted it still controls the strategically vital Strait of Hormuz.<\/span>\u00a0<\/span><\/p>\n Amid the latest uneasy ceasefire,\u00a0<\/span>Oman sent a delegation to Tehran<\/span>\u00a0to negotiate a framework for reopening and managing shipping through the Strait, the vital oil chokepoint\u00a0that\u00a0remains\u00a0at the centre of the conflict.\u00a0<\/span>\u00a0<\/span><\/p>\n Muscat is seeking a compromise that would allow commercial traffic to resume while addressing Iran’s demand for greater control over the waterway.\u00a0Washington\u00a0has\u00a0rejected\u00a0any arrangement that limits freedom of navigation.<\/span>\u00a0<\/span><\/p>\n To further complicate\u00a0issues, the Lloyd’s Market Association, the trade body representing underwriters in the world’s marine insurance market,\u00a0<\/span>issued new guidance last week<\/span> stating that any shipowner who pays Iran for passage could have their insurance cover cancelled because the payment may breach U.K., EU and U.S. sanctions or counter-terrorism laws.\u00a0<\/span>\u00a0<\/span><\/p>\n The clause is optional guidance rather than a mandatory market rule, but insurers can incorporate it into their policies.\u00a0<\/span>\u00a0<\/span><\/p>\n The move significantly raises the stakes for global shipping, with the industry now facing a stark choice: pay Iran’s transit fees through the Strait and risk losing\u00a0insurance, or\u00a0refuse and risk\u00a0having no protection.\u00a0<\/span>\u00a0<\/span><\/p>\n Last week, a second maritime front\u00a0emerged\u00a0in the conflict when Yemen’s Iranian-backed Houthi movement said it had\u00a0<\/span>attacked two Saudi oil tankers in the Red Sea<\/span>, claiming the vessels had \u201cviolated\u201d its blockade of Saudi ports.<\/span>\u00a0<\/span><\/p>\n The official Saudi news agency confirmed that one tanker was hit late on Wednesday, causing a fire.<\/span>\u00a0<\/span><\/p>\n The renewed attacks sent war risk premiums for vessels\u00a0in\u00a0the southern Red Sea soaring. Within a week, insurance costs rose from around 0.3% of a ship’s hull value to more than 1%, while Saudi-linked tankers sailing closer to Yemen’s coastline faced premiums of up to 3%,\u00a0<\/span>according to Reuters<\/em>.<\/span>\u00a0<\/span><\/p>\n Given events across the region, the U.S.-Saudi\u00a0Arabia\u00a0nuclear deal\u00a0<\/span>announced last week<\/span>\u00a0seemed odd in its timing. And critics soon had a field day, particularly when the President\u00a0added\u00a0recognition of Israel\u00a0to the deal\u00a0via a social media post\u00a0(something Saudi\u00a0has rejected without a path to statehood for Palestine).<\/span>\u00a0<\/span><\/p>\n Unlike the\u00a0<\/span>UAE’s 2009 nuclear pact with Washington<\/span>,\u00a0<\/span>the proposed agreement\u00a0that allows Saudi to enrich uranium\u00a0<\/span>omits mandatory adoption of the International Atomic Energy Agency’s (IAEA) Additional Protocol that grants it expanded inspection authority.\u00a0<\/span>\u00a0<\/span><\/p>\n Such omissions have alarmed non-proliferation advocates, especially given Saudi Crown Prince Mohammed bin Salman’s past warning that\u00a0<\/span>the kingdom would develop its own nuclear weapon if Iran ever built one<\/span>.\u00a0<\/span>Relaxing restrictions on Saudi Arabia could fuel competition across the Middle East and\u00a0<\/span>encourage a regional arms race<\/span>, experts warn.<\/span>\u00a0<\/span><\/p>\n Asharq Bloomberg reported the following day that\u00a0<\/span>Riyadh had no advance notice of the\u00a0recognition of Israel addition<\/span>, and that the signed text itself\u00a0doesn’t\u00a0tie the two issues together.<\/span>\u00a0<\/span><\/p>\n While a shaky U.S.-Iran ceasefire has remained in place since last Friday,\u00a0<\/span>Tehran will no doubt feel even more emboldened to dig its heels in on ongoing negotiations over reaching a deal to end the war<\/span>\u2014<\/span>particularly on the\u00a0difficult\u00a0issue of its nuclear capabilities and ambitions.\u00a0<\/span>\u00a0<\/span><\/p>\n Trump\u00a0will\u00a0host Israeli Prime Minister Benjamin Netanyahu at the White House\u00a0this week, marking their first meeting in Washington since before the\u00a0start of the\u00a0Iran war in February<\/span>.\u00a0Some commentators have\u00a0speculated\u00a0that demanding Saudi normalise ties with Israel\u00a0via the Abraham Accords\u00a0is\u00a0<\/span>aimed\u00a0at\u00a0reducing U.S.-Israeli tensions<\/span>.\u00a0<\/span>\u00a0<\/span><\/p>\n In an\u00a0<\/span>interview with Fox News on Sunday<\/span>, Netanyahu said\u00a0<\/span>Trump was \u201cabsolutely right\u201d to say that Saudi Arabia would only get \u201ca civilian\u201d nuclear deal in exchange for normalization with Israel, adding:\u00a0\u201cI stress \u2018civilian\u2019 because the last thing we want, and I\u2019m sure the last thing the\u00a0President wants, is a military nuclear program in Saudi Arabia.\u201d<\/span>\u00a0<\/span><\/p>\n Saudi Arabia\u2019s Public Investment Fund (PIF) has cleared a major regulatory hurdle in its planned $55 billion takeover of video game giant Electronic Arts after the\u00a0<\/span>European Commission said it would not raise competition concerns.<\/span>\u00a0The\u00a0announcement paves the way\u00a0for what would become the largest leveraged buyout in history.<\/span>\u00a0<\/span><\/p>\n PIF, the kingdom\u2019s $1 trillion sovereign wealth fund, is leading a consortium of investors that includes Jared Kushner’s Affinity Partners and private equity\u00a0<\/span>\u2060<\/span>firm Silver Lake.\u00a0<\/span>\u00a0<\/span><\/p>\n The deal is not over the finish line yet. EU regulators are still reviewing the acquisition under the bloc’s Foreign Subsidies Regulation, with a final decision expected by 30 July.\u00a0However, people familiar with the process\u00a0<\/span>told Reuters<\/em> they expect the transaction to receive approval.<\/span>\u00a0<\/span><\/p>\n While the size of each investor\u2019s stake has not been formally announced, the Wall Street Journal has\u00a0<\/span>previously reported that PIF would own 93.4% of Electronic Arts<\/span>\u00a0after the buyout, with Silver Lake owning 5.5% and Affinity Partners 1.1%.\u00a0<\/span>\u00a0<\/span><\/p>\n If approved, the deal will turbocharge\u00a0<\/span>Saudi Arabia\u2019s push to become a global force in gaming and entertainment as part of its Vision 2030 economic diversification strategy.<\/span>\u00a0<\/span>\u00a0<\/span><\/p>\n PIF has already invested billions of dollars across the gaming industry through stakes in companies including Nintendo,\u00a0Capcom\u00a0and Take-Two Interactive, while also backing esports tournaments and developing gaming infrastructure at home.\u00a0<\/span>\u00a0<\/span><\/p>\n Owning Electronic Arts\u2014publisher of blockbuster franchises including EA Sports FC, Madden NFL, Battlefield and The Sims\u2014would give the kingdom control of one of the world’s biggest video game publishers.<\/span>\u00a0<\/span><\/p>\n The deal will be financed through approximately $36 billion in equity from the consortium members and $20 billion in debt committed by JPMorgan Chase. Upon completion, Electronic Arts will be delisted from the Nasdaq stock exchange but will remain headquartered in Redwood City, California.<\/span>\u00a0<\/span><\/p>\n #UAE #fantastic #investor #Jeff #Zucker #hails #UAE #partnership #Banijay #merger<\/p>\n","protected":false},"excerpt":{"rendered":" When I caught up with U.S. med… <\/p>\n","protected":false},"author":1,"featured_media":1009,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[2],"tags":[1823,373,1815,1819,1816,1821,22,52,1393,1817,1282,717,1822,1515,1156,1818,1820],"class_list":["post-1008","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-finance-news","tag-banijay","tag-debt","tag-energy-prices","tag-fantastic","tag-fortune-gulf-brief","tag-hails","tag-investment","tag-investor","tag-jeff","tag-lloyds","tag-merger","tag-oil","tag-partnership","tag-saudi-arabia","tag-u-k","tag-uae","tag-zucker"],"yoast_head":"\n
As ever, thanks for reading, and do keep in touch with your thoughts and ideas. See you next week.
melissa.hancock@fortune.com\u00a0<\/em><\/p>\nLloyd’s insurance draws the line on Hormuz transit fees<\/h3>\n
The U.S.-Saudi nuclear deal has plenty of red flags<\/h3>\n
Saudi\u2019s PIF secures European Commission approval for $55 billion Electronic Arts acquisition<\/h3>\n
The Big Number<\/h3>\n
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<\/div>\nThe 3 things we enjoyed reading this week<\/h3>\n
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