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Billionaire French Shipping Tycoon Expands Hunt for Media Assets – BNN Bloomberg

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(Bloomberg) — French shipping billionaire Rodolphe Saade is seeking more media acquisitions after snapping up a regional newspaper and failing to get his hands on a broadcaster.

“I am interested in media,” he said in an interview Tuesday on France Inter radio. “I am looking at everything, the subject interests me.”

Saade, whose family-owned container line CMA CGM SA has its headquarters in the southern port of Marseille, joined the ranks of French billionaires who dominate the country’s media scene after buying the city’s regional daily La Provence a few months ago. The Saade family has a net worth of $16.3 billion, according to the Bloomberg Billionaires Index. 

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A significant chunk of French media is held by billionaires. Newspaper of record Le Monde is owned by a group of investors including telecoms tycoon Xavier Niel and Czech billionaire Daniel Kretinsky. Luxury group LVMH, founded by billionaire Bernard Arnault, controls Les Echos-Le Parisien, while Le Figaro is owned by Group Industriel Marcel Dassault SA, the holding company of the Rafale aircraft-making Dassault family. Through Vivendi, billionaire Vincent Bollore holds Pay TV groupe Canal+, radio Europe1, and magazine Paris Match among other media assets.

Saade’s foray into media comes amid an acquisitions spree through the family’s closely held CMA CGM, the world’s third-largest container line. In addition reaching a deal to buy Niel’s stake in La Provence newspaper, he was also part of a bidding consortium for French television company Groupe M6 before German media giant Bertelsmann SE & Co. decided not to proceed with the sale.

Skyrocketing freight rates during the pandemic gave CMA CGM a cash pile to bankroll acquisitions, including of logistics companies, a stake in Air France-KLM, new vessels and a holding in a satellite operator.

In Tuesday’s interview, Saade quashed talk of a purchase of the football club Olympique de Marseille. Speculation about a possible acquisition had grown after he reached an agreement this month for CMA CGM to become the club’s major sponsor in the 2023-2024 season. 

Moves into football club ownership and even politics would have been in keeping with other wealthy business owners.

“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,” Saade said.

–With assistance from Phil Serafino and Benoit Berthelot.

©2022 Bloomberg L.P.

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Why social media makes you feel bad

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Have you ever found yourself scrolling through social media and noticed you felt a bit down? Maybe a little envious? Why aren’t you on a yacht? Running a startup? Looking amazing 24/7?

The good news is you are not alone. Although social media has some benefits, it can also make us feel a little depressed.

Why does social media make us feel bad?

As humans we inherently compare ourselves to others to determine our self-worth. Psychologists call this social comparison theory.

We primarily make two types of comparisons: upward and downward comparisons.

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Upward comparisons occur when we compare ourselves to someone else (in real life or on social media) and feel they are better than us (an unfavourable comparison for us) in whatever domain we are assessing (such as status, beauty, abilities, success, and so on).

For example, comparing your day at work to your friend’s post from the ski fields (we’re looking at you Dave!) is likely to be an upward comparison. Another example is making appearance comparisons which can make you feel worse about yourself or your looks .

Although upward comparison can sometimes motivate you to do better, this depends on the change being achievable and on your esteem. Research suggests upward comparisons may be particularly damaging if you have low self-esteem.

In contrast, downward comparisons occur when we view ourselves more favourably than the other person – for example, by comparing yourself to someone less fortunate. Downward comparisons make us feel better about ourselves but are rare in social media because people don’t tend to post about the mundane realities of life.

 

Comparisons in social media

Social media showcases the best of people’s lives. It presents a carefully curated version of reality and presents it as fact. Sometimes, as with influencers, this is intentional but often it is unconscious bias. We are just naturally more likely to post when we are happy, on holiday or to share successes – and even then we choose the best version to share.

When we compare ourselves to what we see on social media, we typically make upward comparisons which make us feel worse. We compare ourselves on an average day to others on their best day. In fact, it’s not even their best day. It’s often a perfectly curated, photoshopped, produced, filter-applied moment. It’s not a fair comparison.

That’s not to say social media is all bad. It can help people feel supportedconnected, and get information. So don’t throw the baby out with the bathwater. Instead, keep your social media use in check with these tips.

 

Concrete ways you can make yourself feel better about social media

Monitor your reactions. If social media is enjoyable, you may not need to change anything – but if it’s making you exhausted, depressed or anxious, or you are losing time to mindless scrolling, it’s time for change.

Avoid comparisons. Remind yourself that comparing your reality with a selected moment on social media is an unrealistic benchmark. This is especially the case with high-profile accounts who are paid to create perfect content.

Be selective. If you must compare, search for downward comparisons (with those who are worse off) or more equal comparisons to help you feel better. This might include unfollowing celebrities, focusing on real posts by friends, or using reality focused platforms like BeReal.

Redefine success. Influencers and celebrities make luxury seem like the norm. Most people don’t live in pristine homes and sip barista-made coffee in white sheets looking perfect. Consider what real success means to you and measure yourself against that instead.

Practise gratitude. Remind yourself of things that are great in your life, and celebrate your accomplishments (big and small!). Create a “happy me” folder of your favourite life moments, pics with friends, and great pictures of yourself, and look at this if you find yourself falling into the comparison trap.

Unplug. If needed, take a break, or cut down. Avoid mindless scrolling by moving tempting apps to the last page of your phone or use in-built focus features on your device. Alternatively, use an app to temporarily block yourself from social media.

Engage in real life. Sometimes social media makes people notice what is missing in their own lives, which can encourage growth. Get out with friends, start a new hobby, embrace life away from the screen.

Get amongst nature. Nature has health and mood benefits that combat screen time.

Be the change. Avoid only sharing the picture-perfect version of your life and share (in a safe setting) your real life. You’d be surprised how this will resonate with others. This will help you and them feel better.

Seek help. If you are feeling depressed or anxious over a period of time, get support. Talk to your friends, family or a GP about how you are feeling. Alternatively contact one of the support lines like LifelineKids Helpline, or 13Yarn.

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Social Media Buzz: Mt. Washington, Balloon, Adani, Kyrie Irving – Bloomberg

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Social Media Buzz: Mt. Washington, Balloon, Adani, Kyrie Irving  Bloomberg

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Canada adds Russian media personalities, companies in latest round of sanctions – CP24

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  1. Canada adds Russian media personalities, companies in latest round of sanctions  CP24
  2. Canada adds Russian media personalities, companies in latest round of sanctions  Halifax.CityNews.ca

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