media CMA CGM CEO looks at possible business opportunities in the sector
Rodolphe Saadé looks at possible business opportunities — AFP
The CEO of the prosperous shipowner CMA CGM, Rodolphe Saadé possible new acquisitions in the media sector on Tuesday, after the takeover of the daily La Provence and its failed attempt to control M6.
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“I’m interested in [the media] topic, so I’m watching” possible business opportunities, said Rodolphe Saadé at the microphone of France Inter.
CMA CGM acquired 100% of the titles of La Provence last month, the epilogue of a legal battle with Xavier Niel to take over the shares held by the holding company of the late Bernard Tapie.
“ When I learned that La Provence, which I read regularly at Marseille, was at the sale, I said to myself “we must seize this opportunity, the newspaper cannot be transferred to Nice or elsewhere, we must keep it in Marseille and preserve employment” », developed Mr. Saadé.
Within a driven team by producer Stéphane Courbit, Rodoplhe Saadé was also positioned for the takeover of the M6 television channel, before the German media giant Bertelsmann renounced its sell its majority stake.
“You never know”
On M6, “for now, the road is closed , but you never know,” the manager of CMA CGM.
Rodolphe Saadé however, denied intend to follow in the footsteps of Bernard Tapie and attempt to acquire Olympique de Marseille, while CMA CGM, whose head office is located in in the city Marseille, will become the jersey sponsor of the football team at from July 2023.
“For the moment, I’m not into politics, and for OM it’s a strategic partnership that we put in place. place, and I think çenough,” he said.
CMA CGM profits skyrocketed (14.8 billion dollars in the first half) thanks to the jump in freight rates, caused by by the economic recovery in the wake of Covid-19 and the disorganization of the flow of goods.
Thanks to; these receipts, the company has multiplied takeovers in logistics (Colis Privé, Gefco…), and equity investments (Air France-KLM and Eutelsat).
But it is now entering a less favorable cycle, recalled; its CEO: ocean freight rates have already been “divided by five” compared to their highest level.
After an “exceptional period for two and a half years, we all have to land,” added, predicting a “difficult” year 2023” in Europe at cause of the energy crisis.