RESOLVING THE LEDGER
This is one outlet's own report from Fortune — the article as it was filed.
Welcome to this week’s Fortune Gulf Brief. We’ll be covering:
Fortune exclusive : Jeff Zucker has big plans for the UAE’s mega-media deal
Hormuz: Lloyds invalidates ships’ insurance under new clause
U.S.-Saudi nuclear pact–deal or no deal?
Game on for Saudi PIF’s $55 billion Electronic Arts takeover
And the three things we enjoyed reading this week
When I caught up with U.S. media executive Jeff Zucker recently, one thing stood out: he sees the UAE as one of the world’s most exciting places to do business.
In the wake of the Banijay-All3Media $8 billion mega-merger , Zucker told me: “The UAE has been a fantastic investor, a great shareholder, and that’s because they are interested in media.
“They’re patient with their investments, and they’re willing to take chances on the global stage. And that’s just an incredible combination for someone who’s looking to invest in media.”
As CEO of RedBird IMI—a joint venture between New York-headquartered RedBird Capital Partners and Abu Dhabi’s International Media Investments (IMI), owner of The National and Sky News Arabia—Zucker played an instrumental role in getting the merger across the finish line.
RedBird IMI previously acquired All3Media in early 2024 for £1.15 billion ($1.5 billion)–its largest deal at the time.
He will now assume the role of chairman of the new entity, which will operate under the name Banijay Entertainment, and will be the world’s largest independent production company, spanning 25 countries and encompassing more than 170 production and live-events companies.
Zucker talked up opportunities to tap into “the tremendous number of stories from the region that have yet to be told, particularly in the UAE.” Banijay already has several productions underway in the country that will continue.
Zucker has been vocal about his view that live events and experiences will be an important growth area for Banijay in the years ahead—and the Gulf will be no exception.
“Certainly, we see huge potential in sports,” he said, highlighting that upcoming major regional sporting events, such as Saudi Arabia’s hosting of the FIFA World Cup in 2034, are “very much opportunities that we can hopefully be part of.”
The company has already produced high-profile live events, including the opening ceremonies for the Milano Cortina Winter Olympics in February and the FIFA World Cup in the U.S., Mexico, and Canada.
He is also keen to extend Banijay’s brands into gaming and immersive entertainment—areas that Gulf countries are betting big on for future growth .
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.
Looking ahead, Zucker will no doubt be hoping that the path to doing business in the UAE doesn’t hit any road bumps this time around.
Readers will recall when RedBird IMI was forced to abandon its final £500 million ($666 million) bid for The Telegraph , a British daily broadsheet newspaper, in November 2025, following political opposition and new U.K. rules restricting foreign state ownership of media companies. Under that deal, Abu Dhabi-based IMI would have taken a 15% stake in Telegraph Media Group.
You can read my full interview with Zucker and analysis of what the merger means for the Gulf in my piece here .
And watch out for a big exclusive from me later this week on Fortune.com .
Melissa Hancock As ever, thanks for reading, and do keep in touch with your thoughts and ideas. See you next week. [email protected]
This story was originally featured on Fortune.com
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