Shipping Giants Set Sail into the Media World

Mediterranean Shipping Co. (MSC), making a major foray into the Italian press sector, has acquired the Genoa-based newspaper group Il Secolo XIX. The acquisition also encompasses several maritime-focused publications including The MediTelegraph, L'Avvisatore Marittimo, Il Giornale del Ponente Ligure, and TTM – Tecnologie Trasporti Mare. This move demonstrates that the company founded by Gianluigi Aponte is following a similar strategy in the wake of CMA CGM's entry into the media business. Among Italian shipowners, there is a growing trend of investing in local media outlets; for example, the owners of The Grimaldi Group, a major passenger shipping operator in Northern Europe and the Mediterranean, have invested in Economy Magazine.

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CMA CGM Group chairman Rodolphe Saadé is drawing attention with even more substantial media investments. After the French regional press group La Provence acquired the business news site La Tribune and launched La Tribune Dimanche, it has now taken the helm of Altice Media, one of France's leading media groups, which he has entrusted to his wife Véronique to manage. Rising ocean freight rates during COVID-19 and favorable tax treatment enabled the owner of the world's third-largest shipping company to rapidly build a media empire.

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Key Points

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• MSC has acquired the Il Secolo XIX newspaper group, an acquisition that also includes several maritime-related publications.

• This move marks MSC's entry into the media sector and its adoption of the path followed by CMA CGM.

• Italian shipowners show a growing inclination to invest in local media outlets.

• Rodolphe Saadé is making headlines with substantial media sector investments and now leads Altice Media.

• Rising ocean freight rates during COVID-19 and favorable tax treatment have enabled such major investments.

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News Link: https://www.supplychainbrain.com/articles/39391-msc-to-buy-italian-shipping-newspaper-group