The pretty check pocketed by Nagui thanks to the company Banijay
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Nagui has rich problems. The presenter of Do not forget the lyrics is a multi-millionaire, but his fortune is illiquid. For the most part, it consists of shares of Banijay Group [*], the group of Stéphane Courbit to whom Nagui was sold in 2009 to the company Air Productions. 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 in shares rather than in cash part of the price paid for his production company. This company produces its hit shows Do not forget the lyrics we Taratata for France 2. In total, the orders of the public channel to this company would amount to more than 30 million euros per year, according to Mediapart.
But sometimes Nagui needs a little cash to make ends meet. In the fall, he sold 0.1% of Banijay Group, which brought him 1.26 million euros, according to information from Capital. The shares were bought back by the group itself.
In the past, Nagui had used another solution to obtain pocket money. He took out bank loans secured by his Banijay Group shares. Thus, in 2017, then in 2018, he borrowed 2 million euros from Société Générale over one year at a rate of 1.5%, pledging 14% of Holding Fam, his personal company which owns the Banijay Group shares. . Holding Fam was therefore valued at 14 million euros on this occasion.
These liquidity problems will last a little longer. Admittedly, FL Entertainment, the holding company of Stéphane Courbit which owns 89.5% of Banijay Group, will be introduced on July 1 on the Amsterdam Stock Exchange. FL Entertainment shares will therefore become easily tradable in the market. But, at this stage, there are no plans to convert Banijay Group shares into FL Entertainment shares, said a spokeswoman. Minority shareholders (Nagui, Cyril Hanouna, CEO Marco Bassetti, etc.), who hold 10.5% of Banijay Group, will therefore have to wait a little longer…
In any case, Nagui was right to be patient. Indeed, the value of Banijay Group has continued to increase. Its capital (excluding debt) was valued at 465 million euros in 2018, then one billion euros in 2021, when Nagui sold 0.1%. Today, the IPO values it around 2 billion euros (5 billion with debt).
Explanation: Stéphane Courbit’s group has developed well, successively buying out its competitors Zodiak then Endemol, thus becoming the leading independent producer in the world. After being shaken up by the Covid, Banijay Group has returned to growth (see figures below). In 2021, 69% of its turnover will come from the production of streaming programs, 13% from the production of fiction, the balance coming from the distribution of programs. Video-on-demand platforms now represent 30% of revenues, with for example Netflix the series Young Wallanderor for Amazon Prime a Mexican remake of i love lucy or reality TV Hunted celebrity.
In 2021, the French activities of Banijay alone generated a gross operating surplus of 56 million euros on a turnover of 250 million euros. Banijay Productions France is notably preparing a new program for W9 called the game.
These developments have also boosted the remuneration of Stéphane Courbit, which is indexed to the results of Banijay Group. It amounts to 0.19% of turnover, plus 1% of gross operating surplus, with a 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 another salary as boss of Betclic (online games). All in all, he received last year (via his family company Lov Group Invest) for a total of 14 million euros.
When questioned, neither Nagui nor his press officer François Doux answered.
[*] Vivendi, owner of Capital, holds 29.4% of Banijay Group
Banijay Group’s results (in millions of euros)
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