SIMIC

"I am interested in media," said Mr Saade. "I am looking at everything; the subject interests me."

Mr Saade joined French billionaires who dominate the country's media scene after buying the Marseille's regional daily La Provence.

The Saade family has a net worth of US$16.3 billion.

Mr Saade's foray into media comes amid an acquisitions spree through the family's CMA CGM shipping line. He was also part of a bidding consortium for French television company Groupe M6 before German media giant Bertelsmann moved in, but decided not to proceed with the sale.

Skyrocketing freight rates during the Covid crisis gave CMA CGM a surplus of cash to bankroll acquisitions.

Mr Saade recently quashed talk of a purchase of the football club Olympique de Marseilles.

"For the moment, I'm not doing politics, and for OM, we're putting in place this strategic partnership, and I think that's enough," said Mr Saade.