French line CMA CGM is expanding its media presence with the proposed acquisition of Altice Media, a prominent news channel in France.
The billionaire Saadé family's carrier conglomerate and automotive parts manufacturers, Merit France, are in exclusive talks to purchase the business broadcaster, including the renowned French news channel BFM TV, in a deal valued at €1.55 billion.
The line’s chief executive, Rodolphe Saade, aims to create a significant media presence in France through this acquisition, expressing ambitions for long-term development in the media industry.
Altice Media, founded 20 years ago, is France's third-largest private-sector media group and a leading news brand with over 13.2 million daily viewers.
The company has developed a strong presence with iconic brands like BFM and RMC, offering a differentiated content strategy focused on news across various platforms.
The proposed acquisition of Altice Media by CMA CGM and Merit France would enable the formation of a Media Division focused on high-quality news, sports, and entertainment content.
This acquisition drive aligns with CMA CGM's existing media activities, which include ownership of French regional newspapers and a stake in M6, France's second-largest private TV network.
The completion of this transaction is subject to consultation with relevant employee representative bodies and regulatory authorities.
Much closer to its core industry, CMA CGM has also been aggressively courting freight forwarders after acquiring 97.86% of the shares of Cevo Logistics in February 2019.
Although a deal with British forwarder Wincanton has fallen through, CMA CGM has successfully purchased Bolloré Logistics, but there is no definitive information to confirm whether the line is still moving in on Geodis.
