Rodolphe Saadé agrees $1.68bn deal to buy RMC Découverte owner Altice Group

Rise And Fall Of The Inca (Source: Pernel Media)

RMC Découverte owner Altice Group has struck a €1.55bn ($1.68bn) deal to sell its media division to Rodolphe Saadé.

The agreement will see Saadé’s logistics company CMA CGM acquiring the media outfit, which also operates RMC Story and news channel BFM.

CMA CGM already owns newspapers including La Tribune and regional titles such as La Provence. Saadé also owns a 10% stake in M6 Group.

CMA CGM has said the existing Altice Media management team is set to remain in place for the foreseeable future.

Altice chief Patrick Drahi had told shareholders last year that Altice Media was not for sale, despite the group facing a debt pile of $60bn. A corruption investigation was also launched against Altice Portugal. Drahi has denied knowledge of the alleged activities.

French broadcaster RMC Découverte has been a regular commissioner of factual content for European producers, recently greenlighting a four-episode documentary series, Rise And Fall Of The Inca, from Pernel Media.