Page Reader AI | Shipping giant CMA CGM hires ex-M6 boss for French media business

Shipping giant CMA CGM hires ex-M6 boss for French media business | Hellenic Shipping News Worldwide

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Key Appointment at CMA CGM

CMA CGM, a major French shipping group, has appointed Nicolas de Tavernost, the former head of television broadcaster M6, as vice president of its media division, CMA Medias.

Strategic Role

De Tavernost will lead the strategy committee, guiding investment decisions and operational management within CMA Medias. His appointment signifies CMA CGM's growing influence in the French media landscape.

CMA CGM's Media Expansion

This move underscores CMA CGM's significant expansion into the media sector, fueled by profits from the post-COVID shipping boom. The company has already acquired several newspapers and a stake in M6, and it sought to acquire BFM TV.

Background and Context

De Tavernost's four-decade career at M6 culminated in his recent departure. CMA CGM CEO Rodolphe Saade, who controls the company with family members, previously attempted to acquire M6 as part of a consortium.

Rivalry with Bolloré

The French media portrays Saade as a competitor to Vincent Bolloré, owner of the right-wing channel CNews.

French shipping group CMA CGM has recruited Nicolas de Tavernost, the former head of television broadcaster M6 MMTP.PA, as vice president of CMA Medias, it said in a statement on Wednesday.

WHY IT’S IMPORTANT

CMA CGM and its CEO, Rodolphe Saade, have emerged as leading players in the French media landscape in the past two years. Drawing on massive profits from a post-COVID shipping boom, CMA CGM has bought several newspapers, a stake in M6 and agreed to buy France’s leading rolling news channel, BFM TV.

CONTEXT

CMA CGM said de Tavernost will head the strategy committee of CMA Medias, the holding structure for the group’s media activities. He will support the media business in its investment decisions and the running of operations, CMA CGM added.

De Tavernost stepped down as head of M6’s executive board last month after building the company into a major commercial broadcaster over four decades.

Saade, who controls CMA CGM with other family members, attempted to buy M6 in 2022 as part of a consortium before M6’s owner Bertelsmann BTGGg.F scrapped its plan to sell.

Saade has been portrayed in the French media as a rival to fellow billionaire Vincent Bollore, who owns the right-wing channel CNews. Source: Reuters (Reporting by Gus Trompiz; Editing by Clarence Fernandez)