‘The Bureau’ Outfit Federation Studios Prepares to Hit Sales Block

Federation Studios, the Paris-based indie production and sales outfit behind popular French series “The Bureau,” is preparing to hit the sales block, Variety has confirmed.

Federation Studios has started discussions with investment banks in recent weeks for an advisor role, according to Reuters, which was first to report the news and said the banner could be valued at over €500 million ($535 million).

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The company, which was founded by industry veteran Pascal Breton, indeed started these preliminary talks with financial advisors months ago and is looking sell to large chunk of the outfit, if not a majority stake, according to sources. The sales process could be launched during the first half of 2024. Federation Studios declined to comment on the reports.

Federation Studios previously ramped up its international business with the backing of Montefiore Investment, a French private equity firm which invested €50 million into the outfit in 2021. Several companies are already potentially interested in the asset.

Founded in 2013, Federation is a production, financing and distribution studio with subsidiaries and associate production companies based in Paris, Los Angeles, Rome, Madrid, Berlin, Cologne, London, Brussels and Tel Aviv. The group’s best-known titles include “The Bureau,” “In Treatment,” “Baby,” “Hostages,” “Marseille,” “Bad Banks,” “Your Honor” and “Around the World in 80 Days.”

The expanding production and distribution studio currently comprises more than 35 production companies and most recently teamed with “The Bureau” creator and showrunner Eric Rochant to launch Maui Productions. Federation has also just hired Marco Chimenz, the co-CEO of Italy’s Cattleya (“Gomorrah,” “ZeroZeroZero”) to become co-managing director, as it aims to play a larger role in pre-financing and international co-production going forward.

The banner’s roster of labels include Vertigo Films in the U.K., Fabula Pictures in Italy and Drama Team in Israel, among dozens of outfits. The company also has a footprint in the U.S. with Federation Entertainment America, Animal Federation and Picture Perfect Federation, launched in partnership with former Lionsgate boss Patrick Wachsberger. The group had 250 full time employees around the world as of 2022.

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