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CMA CGM to buy media group Altice for €1.55 billion

Caption: Rodolphe Saadé, CEO and Chairman of CMA CGM (Photo: CMA CGM)

The French shipping and logistics group CMA CGM is expanding its portfolio in the media sector with the acquisition of Altice Media, “the leading provider of live news in France”.

CMA CGM has signed an agreement with its parent company, Altice France, for the acquisition of 100% of the company, as has now been announced[ds_preview].

Following various M&A activities, particularly in logistics, the non-maritime business is now also to be expanded. This transaction should enable CMA CGM to “build a long-term media division with high-quality news, sports and entertainment content, whose editorial vision is based on pluralism, independence and work ethics and is focused on economic, social and territorial issues”, according to the explanation of the planned transaction, which still has to overcome a few hurdles. It is subject to consultation with the relevant employee representative bodies of the Altice France companies and the approval of the usual regulatory authorities, including the regulatory authority for audiovisual and digital communications (ARCOM) and the relevant competition authorities.

Altice Media is to be jointly acquired by CMA CGM and Merit France, the company’s family holding company, which intends to acquire 80% and 20% of the share capital for a total enterprise value of €1.55 billion.

Altice Media is described as France’s third-largest private media group and the leading news brand. Founded 20 years ago, the company has over 13.2 million daily viewers (as of January 2024). With its two main brands, BFM and RMC, and a differentiated news offering, it aims to appeal to a young audience. Over the past three years, Altice Media has developed a distribution strategy that includes three national and ten local TV channels, three radio stations, and an online news platform.

CMA CGM wants to build a leading media division

Rodolphe Saadé, Chairman and CEO of the CMA CGM Group, said: “With this planned acquisition, we want to continue our long-term development in the media sector. Altice Media is a reference media group with strong growth, talented teams and iconic brands.” Altice Media’s complementarity with CMA CGM’s existing media division and its media La Provence, Corse Matin, La Tribune and La Tribune Dimanche is expected to be a key strength.

Altice Media generated revenues of €362 million in 2023 and employs 1,700 people, including more than 900 journalists.

CMA CGM has set up its own media division, which includes its local newspapers, its digital business and financial newspaper and its national Sunday newspaper. The long-term goal is to build a leading media division. The current management team of Altice Media has been offered to remain with the company.
Takeover conditions.

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