Businessman Rodolphe Saadé states his commitment to staying out of the editorial decisions regarding his owned media outlets.
CMA CGM Group Expands Media Portfolio Amidst Concerns
Rodolphe Saadé, CEO of the CMA CGM group, testified before the National Assembly's Economic Affairs Committee on September 17, following the acquisition of Chérie 25 by his company. The acquisition, which was validated by the Arcom on the same day, adds to the group's existing media holdings.
The CMA CGM group now controls a significant portion of the French media landscape, owning BFM TV, RMC, Brut, La Tribune, La Tribune Dimanche, La Provence, Corse-Matin, and the recently acquired Chérie 25, formerly known as the NRJ Group.
Saadé justified his media takeovers due to the 'very bleak' financial situation of the media sector. He asserted that he does not interfere with the editorial lines of the acquired media and believes that they maintain independence and offer pluralism.
However, some media economists express concern about the concentration of major press titles in the hands of a few billionaires. They worry about the potential impact on the diversity of opinions and the independence of the media. The claim that '90% of major media belong to nine billionaires' is not specified in the article.
Saadé's announcements were made in a tense social climate, raising fears of editorial changes for journalists. On Friday, Journalists' Societies of BFM TV, RMC, and La Tribune expressed concern over Saadé's political and social news being broadcast on BFM TV. These societies had previously deplored Saadé's political stance being broadcast on their channels.
In a bid to reassure, Saadé's tone during the testimony was reassuring. He believes industrialists should defend pluralism, independence, and the quality of information. To continue producing information in France and resist large platform dominance, Saadé advocates for solid media groups.
René Pilato, a deputy of La France insoumise, has suggested a 'great law on the separation of companies and media' in response to these developments. The implications of such a law remain to be seen.
In the meantime, the CMA CGM group's media investments represent less than 5% of their total investments, suggesting a strategic rather than a financially driven move into the media sector.
On September 11, Saadé published an article in La Provence stating that companies are partners of the nation. He emphasised the significant role media play in democratic vitality. The Arcom's validation of the acquisition of Chérie 25 by CMA CGM marks a significant step in the group's media expansion.
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