Mohamed Hassan Bensalah has agreed to buy Groupe Maroc Soir, the media group behind the long-running newspaper Le Matin and other publications. The deal still needs regulatory approval before it can be completed. Othman Al Omeir is the group’s current owner. The acquisition would bring one of Morocco’s established media groups under the ownership of Bensalah, the chairman and chief executive of Holmarcom Group, a major private business group.
Bensalah plans to invest in the group’s digital development, new media formats and international expansion. The project also aims to strengthen its presence in Morocco and help it respond to changes in the way people consume news.
The group says the new project will maintain its existing editorial approach and the principles of journalism, including “rigor, professionalism, the demand for quality information, editorial independence, and a sense of responsibility.”
Groupe Maroc Soir has been part of Morocco’s press industry for decades. Its publications have covered political, economic, social and institutional affairs and have built a recognised name in the country’s media sector.
The deal comes as traditional news organisations face pressure from falling print readership, changing advertising markets and the shift of audiences towards digital platforms.
Bensalah’s business background gives him access to capital and experience across several sectors. Holmarcom has interests in insurance, finance, agro-industry, food and water, distribution, services and real estate.
The group has major interests in insurance through AtlantaSanad and in mineral water through Eaux Minérales d’Oulmès. It has also been involved in banking, aviation and real estate.
Bensalah took over the leadership of Holmarcom in 1993 after the death of his father. He was born in 1970 and studied management and finance in France, including at the Sorbonne University and the École des Cadres in Paris.
He also holds several positions in Morocco’s business and institutional sector. He is president of the Moroccan Federation of Insurance and Reinsurance Companies (FMSAR) and serves on the boards of the Casablanca Stock Exchange, Casablanca Finance City, BMCI, CIH Bank and the Moroccan Inter-Professional Retirement Fund (CIMR).
He is also a member of the Economic, Social and Environmental Council and is involved with the Mohammed V Foundation for Solidarity and the Mohammed VI Foundation for the Protection of the Environment.
King Mohammed VI awarded Bensalah the Order of the Throne in 2004.
The purchase will only go ahead once the required regulatory approvals have been obtained.
