For once, Patrick Drahi took everyone by surprise.
For months now, when asked about the sale of its media division made up in particular of BFMTV and RMC, announced this Friday, its staff kept repeating the same mantra:
“Altice Medias is not for sale”
.
The fact remains that the billionaire, a shrewd financier but in debt to the tune of 24 billion euros for his French entity (and 60 billion for the whole of Altice), knows that a good opportunity rarely presents itself twice.
As such, the proposal from Rodolphe Saadé, owner of the shipowner CMA-CMG, to value Drahi's media activities at 1.55 billion euros, was too good to be rejected.
At this price, the offer represents 13 times the operating profit achieved by Altice Media in 2023. If Patrick Drahi, for a moment, hoped for up to 2 billion for the activity, the valuation remains generous for a group of media.
To discover
PODCAST - Listen to the latest episode of our Tech Questions series
Also read: Atos, Casino, Altice... These companies trapped in debt
The sale of this asset does not constitute…
This article is reserved for subscribers.
You have 79% left to discover.
Flash sale
€4.49/month for 12 months
I ENJOY IT
Already subscribed?
Log in