French-Lebanese Saade holding company buys stake in Pathe cinemas
PARIS: French-Lebanese billionaire Rodolphe Saade's family holding Merit France has acquired a 20 percent stake in French cinema chain Pathe for an undisclosed amount, privately owned Pathe said on Monday.
WHY IT'S IMPORTANT
Saade and his shipping company CMA CGM have already become leading players in the French media landscape in recent years, buying up several newspapers as well as Altice Media, which owns 24-hour news channel BFM TV.
The investment in Pathe builds on the family's interests in media and culture.
CONTEXT
Pathe, owned by French businessman Jerome Seydoux, is one of the world's oldest film companies, and is a leading producer as well as movie theater operator in Europe and Africa.
The investment will help Pathe accelerate its development in producing films and series with an international reach, and to modernize its movie theaters, the statement said.
KEY QUOTE
'We are committed to contributing to the development of the sector and promoting French film culture around the world,' said Rodolphe Saade.
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
ArabGT
4 hours ago
- ArabGT
Hydrogen Hits the Scene Hard, with BMW Leading the Way
As debates continue over the true environmental benefits of electric vehicles versus hybrid alternatives, BMW is turning its focus toward hydrogen fuel cells as a promising green solution. In an exclusive interview, Dr. Jürgen Goldner, Head of Hydrogen Technology at BMW, confirmed the company's readiness to deepen its investment in this technology, stating that 'the timing is right' for expansion. The iX5 Hydrogen, first revealed in 2024 and previously tested by Arab GT, served as the company's pilot project—proof that hydrogen fuel cell vehicles can deliver on both performance and practicality. According to Dr. Goldner, BMW is now preparing for full-scale production, with its first hydrogen-powered vehicle expected to reach the market sometime between 2028 and 2030. Also Read: BMW Manager Discusses the Groundbreaking iX5 FCEV A Strategic Alliance with Toyota A key part of BMW's hydrogen roadmap is its strengthened partnership with Toyota. Dr. Goldner highlighted that Toyota is contributing heavily to the development of the new-generation fuel cell system. By leveraging Toyota's deep expertise in hydrogen technology, BMW is positioning itself to meet the cost-efficiency targets necessary for mass production by the end of the decade. Hydrogen Cars: Performance of EVs, Convenience of Gasoline Dr. Goldner noted that hydrogen vehicles combine the best aspects of electric mobility: zero emissions, quiet operation, and quick acceleration. But unlike battery EVs, they offer the major advantage of refueling in just 3 to 4 minutes—comparable to conventional gasoline vehicles. This speed addresses one of the primary concerns many drivers have with electric cars, especially on longer trips where charging downtime becomes a significant inconvenience. Infrastructure Growth and Long-Term Strategy BMW views hydrogen not as a gamble, but as a calculated step toward a more adaptable, clean-energy future. The company is encouraged by the growing hydrogen fueling infrastructure in regions such as Europe, Japan, and South Korea. However, it acknowledges that hurdles remain, particularly in scaling up production and reducing costs. Still, the company now sees hydrogen as a 'strategic opportunity' rather than a technological risk. Public Perception: Divided but Curious The public response has been mixed. Discussions on Reddit reveal skepticism about hydrogen's viability compared to the maturing battery EV ecosystem, especially in terms of efficiency and operational costs. On the other hand, some users highlight the fast refueling times as a compelling reason to consider hydrogen, particularly in areas where charging stations are crowded or slow. In summary, BMW is betting on hydrogen as a complementary path to electrification—one that may appeal to a different kind of driver, in different kinds of markets, and in a future where flexibility could be just as important as innovation.
Asharq Al-Awsat
11 hours ago
- Asharq Al-Awsat
France Says Supports Harvard, Welcomes Foreign Students
France's foreign minister on Saturday said his country supported students and staff at Harvard, after President Donald Trump tried to ban foreign students from the prestigious US university. "We stand with universities facing the threat of government control, restriction to their funding, constraints on their curricula or research projects," Jean-Noel Barrot said during a commencement address at the high-profile HEC business school in Paris. "We stand with Harvard faculty, with Harvard students, facing unjustified stress and anxiety right now," he added in English. "Should US courts uphold decisions to ban international students, France will offer (them) a safe place to complete their degrees," he said. Universities and research facilities in the United States have come under increasing political and financial pressure under Trump, including with threats of massive federal funding cuts, said AFP Harvard has been at the forefront of Trump's campaign against top American universities after it defied his calls to submit to oversight of its curriculum, staffing, student recruitment and "viewpoint diversity". A US court last week put a temporary stay on Trump's latest effort to stop foreign students from enrolling at Harvard. A White House proclamation a day earlier had sought to bar most new international students at Harvard from entering the country, and said existing foreign enrollees risked having their visas terminated. The US government has already cut around $3.2 billion of federal grants and contracts benefiting Harvard and pledged to exclude the institution from any future federal funding. France and the European Union are seeking to encourage disgruntled researchers to relocate from the United States to Europe. European Commission head Ursula von der Leyen said last month that the EU would launch a new incentives package worth 500 million euros ($580 million) to make the 27-nation bloc "a magnet for researchers". French President Emmanuel Macron in April unveiled plans for a funding program to help national universities and other research bodies cover the cost of bringing foreign scientists to the country.
Al Arabiya
a day ago
- Al Arabiya
Germany sees limited financial leeway on next EU budget, policy paper shows
Germany wants the European Union's next seven-year budget to keep a lid on spending, according to a policy paper seen by Reuters on Saturday, with Berlin arguing members do not have room to boost the scope of their contributions. The German economy, Europe's largest, has contracted for the past two years and forecasts for 2025 are modest. That has dragged on growth in much of the bloc and meant the German government is entering the budget talks cautiously. 'For the foreseeable future, member states' financial leeway will remain limited. There is no basis for increasing the (EU budget's) volume relative to GNI (Gross National Income),' the policy paper from the bloc's biggest budget contributor says. The government did not immediately reply to a request for comment. Negotiations are just starting on the next EU budget period from 2028 to 2034, which covers a sum of about 1.2 trillion euros ($1.4 trillion). EU Commission chief Ursula von der Leyen said last month the budget must be more flexible and focused. Budget talks are contentious within the 27-nation EU, pitting the biggest net budget contributors against poorer net beneficiaries and traditional sectors like agriculture against the need to develop cutting-edge new technologies. The German paper said the next budget should reinforce EU security and defense powers as well as competitiveness. 'The EU and its member states must assume greater responsibility for security and defense,' it said, noting that the budget must continue support for Ukraine. The document also underlined Germany's aversion to jointly issued debt, saying repayments to the so-called Next Generation EU (NGEU) program, a pandemic recovery scheme financed by jointly backed bonds, should begin as of 2028. 'The federal government rejects a perpetuation of this extraordinary and temporary instrument; an extension is legally excluded,' it said.
