Shipping and logistics group CMA CGM has an interest in establishing its growing media company outside France, Chairman and CEO Rodolphe Saade stated on Thursday.

WHY IT is necessary

CMA CGM and its CEO have actually become leading players in the French media landscape in the previous two years. Making use of enormous make money from a post-COVID shipping boom, CMA CGM has bought numerous papers, a stake in tv broadcaster M6 and accepted buy Altice Media, which owns rolling news channel BFM TV.

SECRET PRICES QUOTE

I am open to worldwide growth. I would like (...),. when the combination of Altice Media has been finished, for us. to also check out financial investments abroad, Saade said.

In a highly competitive context I will offer Altice Media. the ways to continue to establish. Our very first task will be to. allow BFM to end up being the leading news channel again, he likewise. said during a hearing at French media regulator Arcom.

CONTEXT

Saade, who manages CMA CGM with other family members,. tried to buy M6 in 2022 as part of a consortium before M6's. owner Bertelsmann scrapped its plan to offer.

His proposed 1.55 billion euro ($ 1.69 billion) deal to. acquire Altice Media from debt-laden telecoms group Altice would. provide him control of BFM TV as well as popular radio station RMC.

Saade has been portrayed as a competing to fellow billionaire. Vincent Bollore, who owns the conservative channel CNews that last. month surpassed BFM as France's most-watched news channel.

Saade, who began his venture into media by acquiring regional. daily La Provence in Marseille where CMA CGM is based, has actually stated. he remains in favour of nuanced news protection.