Billionaire Rodolphe Saade’s family holding Merit France has taken a 20% stake in French cinema giant Pathe.
The investment will enable privately-owned family company Pathe, whose scope spans production, distribution and exhibition to accelerate its development in film and series production for projects with an international reach, and to modernise its movie theatres, Pathe said in a statement.
The announcement comes just as Cannes film festival is about to kick off where Pathe is behind opening night film Leave One Day and Martin Bourboulon’s late festival addition Kabul-set drama 13 Days And 13 Nights, plus a robust market slate for its international sales arm.
Saade and his shipping company CMA CGM have already made major moves into the French media landscape in recent years with the the acquisition of several newspapers as well as Altice Media, which owns 24-hour news channel BFM TV.
Pathe, owned by French businessman Jerome Seydoux, also owns and operates several cinemas in Europe and Africa.
“Welcoming the Saadé family as a partner will accelerate the growth and modernization of Pathé. It will also allow us to continue working with the talent we value and to attract those who share our ambitions and aim for international success,” said Seydoux.
“We are committed to contributing to the development of the sector and promoting French film culture around the world,” Saade said, calling Pathe “a flagship brand for film lovers both in France and worldwide.”
The investment will allow Pathe to continue to make blockbusters with appeal both at home and overseas like 2024 French box office hit The Count of Monte Cristo and upcoming De Gaulle two-part biopic. Pathé also has had a co-production and financing deal with Logical Pictures since 2023.
Financial details of the deal were not disclosed.
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