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CMA CGM acquires third largest French media company

CMA CGM acquires third largest French media company
CMA CGM acquires third largest French media company

Merit France (the family holding company of the CMA CGM Group) has announced its acquisition of France’s third-largest media company, Altice Media. 

In March, Rodolphe Saadé, chairman & CEO of the CMA CGM Group, said “Through this contemplated acquisition, we have the ambition to pursue our long-term development into the media sector.” 

Who is Rodolphe Saadé? As a prominent businessman Rodolphe Saadé joined CMA CGM, a company founded by his father, Jacques Saadé, in 1994.

CMA CGM is not new to the media landscape. It’s media interests include: 

  • La Tribune Dimanche: This is a weekly publication that offers in-depth analyses and reports. 
  • Corse Matin: A regional newspaper. 

Acquisitions and market presence 

In January, the logistics world was woken to the news that Air-France KLM and the French shipping company ended its joint venture. 

Not long after the Air France-KLM split, CMA CGM acquired Bolloré Logistics. French-based Bolloré Logistics is a global leader in international transport & logistics. 

CMA CGM’s Red Sea sailings 

CMA CGM resumed its Red Sea transits in the southern parts of the Red Sea on a case-by-case basis. 

The Red Sea crisis has been playing havoc on the business sector, with the British Chamber of Commerce revealing in a report that almost 37% of companies surveyed in the report say they have been impacted by the Red Sea crisis. 

Earlier this week, Locate2u reported on the impact it is having on the supply chain, with Maersk’s CEO Vincent Clerc highlighting that the months ahead are going to be tough for both carriers and businesses. 

What is the alternative shipping route avoiding the Red Sea?

A few options to avoid the Red Sea have come to light in recent months. The first action of shipping companies was to reroute vessels around the Cape of Good Hope. But this left shippers with a problem: Longer transit times.

The Port of Salalah Port introduces an alternative by introducing a multi-modal service option as an alternative to re-routing around the Cape of Good Hope.

Benefit of a multi-modal service

  • Flexibility: Multi-modal transport offers greater flexibility in shipment routing and scheduling. 
  • Adaptability: A multi-modal service can adapt to disruptions or changes in one. 

Reliability: By having flexible multi-modal services, shippers can ensure timely delivery even if one mode encounters delays or issues.

Photo Credit: The Banking Vault (LinkedIn)

About the author

Sharl is a qualified journalist. He has over 10 years’ experience in the media industry, including positions as an editor of a magazine and Business Editor of a daily newspaper. Sharl also has experience in logistics specifically operations, where he worked with global food aid organisations distributing food into Africa. Sharl enjoys writing business stories and human interest pieces.

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