European production company Banijay Entertainment is reportedly set to buy a majority stake in UK-based prodco Zig Zag Productions. Banijay, which was formed in January 2008 by a team lead by former CEO of Endemol France, Stephane Courbit, currently has stakes in production companies in Spain (Cuarzo Producciones), Russia (Intelegencia), Germany (Brainpool), the United States (Angel City Factory) and France (Air Productions, Depeche Prod, JES prod & ALJ Production) and is looking to expand into new territories. Zig Zag was started by Danny Fenton and Kevin Utton in 1999 and has made 400 hours of programming to date. The deal, the amount of which is currently undisclosed, is expected to be finalized within the next few days.
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