Altice France has agreed to sell its media operations to French shipping and logistics company CMA CGM Group.
The deal includes BFM TV, one of the country’s largest 24-hour news channels, as well as documentary channel RMC Découverte, and RMC Story.
CMA CGM said it has asked Altice Media’s management team to remain in place.
CMA CGM Group, led by CEO Rodolphe Saadé, already holds around 10 per cent of French broadcasting group M6 and as well as various French regional newspapers.
Over the past 10 years, Altice Media has grown from three national TV channels to five and no local TV channels to owning 10.
Patrick Drahi, founder and owner of Altice, said he was “very confident” Saadé would continue to invest in and develop Altice Media.
Saadé said: “With this planned acquisition, we have the ambition to continue our long-term development in the media industry.”
