Top French Rolling News Channel in Takeover Bid by CMA CGM

TV news monitors backstage
Updated Published

Rodolphe Saadé is making strides to acquire France's premier rolling news network, enhancing his burgeoning media portfolio with substantial financial backing.

On Friday, CMA CGM disclosed a transaction valued at EUR1.55 billion ($1.69 billion) to purchase Altice Media, the third-largest media conglomerate in France's private sector, responsible for operating BFM TV and the RMC radio station.

Saadé's media assets already include ownership of four newspapers along with numerous online platforms.

“Together, at any time, in any place and on any device, we can be the voice,” he remarked on Friday.

The acquisition of Altice Media, pending regulatory consent, involves a collaborative bid where CMA CGM will possess an 80% interest, and Merit France, owned by Saadé, will maintain a 20% ownership.