The media continue shopping for Patrick Drahi. After entering into exclusive negotiations to buy the magazines “Strategies”, “Pairs of Coiffure” and “Cosmetics Mag”, the businessman, owner of Altice (SFR, Numericable), joined forces with Alain Weill, CEO NextradioTV (BFMTV, RMC), to redeem this group, announced the two men in a statement.
The two bosses will soon launch a takeover bid of EUR 595 million (EUR 37 per share) to buy the whole group through a specially created structure the occasion. With this union, Alain Weill will own 24% of the shares of a subsidiary of Altice dedicated to investments in the media. He will become CEO of Altice Media, which manages all media activities of the group and will integrate the Executive Committee of Altice. At the opening, the NextRadioTV share price soared 14.5% to 36.41 euros.
Patrick Drahi third French fortune
Consisting of BFMTV and RMC Découverte (more BFM Business in the Paris -France), the NextRadioTV television division was up quickly. Last year, it passed the 100 million euros of turnover. It represents more than half of the group’s activity and greatly exceeds the radio (78 million), its historical business (RMC resumed in 2000, and BFM Business). NextRadioTV The group will also buy number 23, the small independent DTT channel for 90 million euros.
Patrick Drahi, which multiplies acquisitions in telecoms and media (Libération, L’Express …), may redeem by March 2019 the entire capital of NextradioTV, one of the only major independent media groups in France. Third fortune of France, it has already acquired in June 2014 Libération and February 2015, L’Express and a dozen other magazines. He is the head of the fifth pole French magazine press. He also holds the Israeli-hour news channel, and the Israeli group I24news television Hot and mobile telephony.
In addition to the press, he has built an empire in a few years in telecoms, in France and abroad: owner of Numericable, SFR acquired it in March 2014 13.4 billion euros and Portugal Telecom in December 2014 for 7.4 billion euros, and the American Suddenlink Communications for $ 9.1 billion.
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