Patrick Drahi’s Altice Group Sells French BFM & RMC Channels
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deadline.comThe Alice Group has sold its media arm, which includes the BFM and RMC TV channels, to French Lebanese billionaire Rodolphe Saadé in a deal valued at $1.68B (€1.55B).
French media reported the sale had been announced to Altice Media employees on Friday morning, following the signing of a legally binding promise to purchase the media group by Saadé’s company CMA CGM.
News of the deal came just seven months after Altice France’s Israeli-French billionaire owner Patrick Drahi told a shareholders’ meeting thatAltice Media was not for sale.
Drahi’s Altice Group is currently battling to reduce an estimated $60B debt pile as well as a corruption investigation involving Altice Portugal and Drahi’s long-term business associate Armando Pereira.
Read more on deadline.com
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