A new step in the acquisition of the media branch of the Altice group, which includes BFMTV and RMC, by the shipping company CMA CGM.
The audiovisual regulator, Arcom, and the Competition Authority have given their approval to the acquisition by the shipowner, owned by billionaire Rodolphe Saadéthey said on Friday in two separate press releases.
“Taking into account the commitments made by CMA CGM, the (competition) Authority authorized the transaction at the end of the phase 1 review,” it said.
For its part, Arcom also decided to “issue approval” for the acquisition of Altice Media by CMA CGM, “with regard to the commitments made by the purchaser”.
These commitments relate in particular to the “ethical obligations” of audiovisual media which offer information programmes, “to pluralism, honesty and independence of information and programmes”, the regulator indicated.
A conditional redemption
The Competition Authority, however, conditioned its authorization on compliance by CMA CGM with certain commitments concerning the advertising market in the south of France, where the shipowner already owns the daily newspaper Provence.
In particular, CMA CGM has undertaken not to practice any form of group sales offer (coupling) of advertising spaces of Provence and local channels BFM Paca.
CMA CGM announced in March that it had signed an agreement to buy Altice Media from businessman Patrick Drahi for 1.55 billion euros. The shipowner then indicated that the transaction would be finalized “during the summer.”
This announcement took everyone by surprise, because Altice had repeatedly denied rumors of the sale of its media branch, which had been recurring in previous months.
