CMA CGM head Rodolphe Saadé’s sprawling media empire has another marquee brand. Merit France, Saadé’s family holding, has taken a 20% stake in French cinema giant Pathé for an undisclosed sum.
“Welcoming the Saadé family as a partner will accelerate the growth and modernisation of Pathé. It will also allow us to continue working with the talent we value and to attract those who share our ambitions and aim for international success,” said Jerome Seydoux, Pathé’s owner.
“We are committed to contributing to the development of the sector and promoting French film culture around the world,” Saadé said, calling Pathé “a flagship brand for film lovers both in France and worldwide.”
Pathéis a French major film production and distribution company, owning a number of cinema chains and television networks across Europe.
It is the name of a network of French businesses that were founded and originally run by the Pathé Brothers of France starting in 1896. In the early 1900s, Pathé became the world’s largest film equipment and production company, as well as a major producer of records. It is the world’s second-oldest operating film company.
Cash-rich Saadé, one of France’s richest individuals, also owns 10% of France’s second-biggest commercial network M6, and the daily newspaper La Provence, as well as the news channel BFM, radio station RMC, and Brut, a digital media publisher.
