M6 and Brut investor CMA CGM to acquire financial daily La Tribune

la tribune cma cgm 2023-05-26 at 12.33.00 PM

French shipping containers giant Compagnie Maritime D’Affrètement (CMA CGM), headed by Franco-Lebanese businessman Rodolphe Saadé, is firming up its interest in media by agreeing the acquisition of national business-focused daily newspaper La Tribune.

The investment in the newspaper follows a series of investments in TV broadcaster M6 towards the end of last year, the acquisition of regional newspaper La Provence last summer and an investment in youth-media outfit Brut in April.

CMA currently holds around 10% of M6, a stake built up following the abandonment of majority owner RTL and rival TF1’s owner Bouygues’ plan to merge the pair.

Rodolphe Saadé

Saadé’s investment in Brut came in April, when CMA CGM and La Provence, along with Miami-based financial services company MoonPay took part in a fourth funding round for US$40 million.

It had earlier been reported that Saadé and another French tycoon with interests in the media space, Xavier Niel, were teaming up to invest in the outfit.

Youth-oriented Brut launched a short-lived video streaming service, BrutX, which was shuttered in April, with subscriptions transferred to Brut.Club, a premium version of the outfit’s app.

In March, in another sign that Saadé’s interest in investing in media is growing, the shipping outfit hired former France Télévisions news executive Laurent Guimier to head a dedicated media outfit within the company – CMA CGM Media.

Announcing the La Tribune acqusition bid, CMA CGM said it “aims to be a decisive player in innovation and transformation in the media sector”.

“The Group’s expansion into media, where it is now present in several segments, with investments in digital, broadcasting and regional daily press, is driven by its strategy of diversification and the ambition to further enhance CMA CGM’s local and national presence,” it said.

The completion of the La Tribune transaction is subject to consultation of employee representative bodies and to regulatory approvals.

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