the CMA CGM group buys BFMTV and RMC for 1.55 billion euros

The shipowner, owned by Franco-Lebanese billionaire Rodolphe Saadé, will acquire 100% of the capital of the Altice group’s media subsidiary. The information was announced to employees.

The rumor was growing, it is now confirmed. The CMA CGM group, owned by Franco-Lebanese billionaire Rodolphe Saadé, announced on Friday March 15 that it had signed a promise to purchase with a view to acquiring 100% of the capital of Altice Media. Amount of the transaction: 1.55 billion euros.

The latter includes BFMTV, BFM Business, BFM Régions, BFM Radio, RMC, RMC Story, RMC Découverte, RMC Sport, RMC and BFM Play. “The CMA CGM group today signed a purchase promise with the Altice France group with a view to acquiring 100% of the capital of Altice Media”writes the French shipowner in a press release.

A transaction “finalized during the summer”

“Patrick Drahi expresses his full confidence in Rodolphe Saadé, with whom he has maintained close and friendly relations for many years, his family, CMA CGM and Merit France, to continue to invest and develop Altice Media”, writes Altice in a press release. The transaction “should be finalized during the summer”.

Arthur Dreyfus, Chairman and CEO of the Altice group, welcomed the possibility in a message to his colleagues “to write the next page of our group”.

“The CMA CGM project aims to continue the development of Altice Media, to continue to invest in technology and to always guarantee pluralism and editorial independence.”

Arthur Dreyfus, CEO of Altice

in a press release

And to add: “In the coming days, we will come and meet the teams to best prepare for this new adventure.”

Patrick Drahi, owner of Altice, was a seller due to his considerable debt. It retains the group’s other activities, namely the operator SFR and smaller companies in technologies and telecoms. BFMTV is the number one continuous news channel in France, closely followed by CNews, a subsidiary of Vivendi, Vincent Bolloré’s group.