ROME.–The Media card Italianand also the politician, live a earthquake with the possible sale of two historic newspapers, The Republic And La Stampasecond and third best selling in the country after Corriere della Seraand these are currently the two largest progressive newspapers in opposition to the government of Giorgia Meloni. The Republic and other media from the GEDI group, such as the Italian edition of Huffington Post and three radio stations (M20, Deejay and Capital), They could end up in the hands of the Antenna group, led by Greek businessman Theodore Kyriakou, a conservative and close to Donald Trump.and partner in Greece of Saudi Prince Mohamed Bin Salmán, who holds a 30 percent stake in Antenna Greek BV through his PIF fund.
However, the magnate explained this is not interested in it La StampaThe would be sold elsewherebut before or after the transaction It is not clear to whom. The two newspapers are the most famous newspapers of the GEDI group, owned by the Agnelli family, the historical owners of Fiat, through the Exor company (which also owns 43%). from The Economist) chaired by John Elkann Agnelli. In total there are 1,300 employees who now fear a reduction in staff and a change in editorial policy.
Kyriakou, previously unknown in Italy, was one of them Guests at the exclusive state dinner that Trump hosted in Qatar last May. In Washington he is a member of the Think tank Atlantic Council, which organized an event last September in which Italian Prime Minister Giorgia Meloni took part in a video conference.
The possibility of a line change both newspapers, very critical of Trump and also with Russiaeven led to this this Monday intervene in the Russian embassy in Italywho was happy with the sale and hopes that with the new owners they will no longer be “megaphones for unbridled anti-Russian propaganda”.
The unlisted Antenna Group said in a statement that the group “has always shown respect for journalistic independence and pluralism,” but the Fears that the Italian media landscape will change profoundly are obvious. The earthquake has since also been sentimental, both for the progressive Italian world and especially for Turin, the Piedmont region and the entire northwest of the country La Stampa It has been a symbol of its identity for more than 150 years.
However, in recent years it has become apparent that GEDI, which bought the group in 2019, was gradually dismantling it and was unable to recoup its losses. Between constant cuts and fluctuations in the editorial team The Republic This caused him to lose readers. The sale of the weekly newspaper was particularly traumatic L’Espressoanother symbol of the group. GEDI Digital, the audiovisual area of the newspaper portals, was also of great importance. The Republic currently has three million unique users on the web and La Stampa1.1, while in the paper edition the circulation of both is around 50,000 copies.
After months of rumors, Elkann confirmed to workers on Wednesday that he had signed one exclusive preliminary agreement for a sale of 140 million euros with Kyriakou. This 51-year-old businessman, from a shipping family and with Marine and real estate interestsHe is present in the media with his group Antenna Greece, Cyprus, Türkiye, several eastern countries, Australia and the United Statesespecially in the audiovisual sector. In total it has 37 channels. And when the sale is complete, La Repubblica and La Stampa They would be his first newspapers. Hence the suspicion that in reality He is interested in the group’s three radio stations.the only companies that make profits, as a first step to later enter the Italian television sector. Some information suggests that the landing in Italy also points to the purchase of Sky Italia at a loss of 258 million euros in 2024.
For now, negotiations for the company have been extended by two months until the end of January, primarily to avoid announcing the sale before January 18th The Republic turns 50 and an anniversary celebration is planned, which will soon turn into a funeral. The Rome-based newspaper founded by Eugenio Scalfari is an institution of Italian journalism and Speaker of the Left. During the years of Silvio Berlusconi it became the main means of opposition and denunciation of scandals. That was it then too La Stampawhich has always been owned by an industrial family Known for defending social rights and expressing a liberal culture.
The main demand of the workers at the moment is that the GEDI Group demands a call from the buyer Social protection clausewhat in Italian legislation allows the sale to include a series of guarantees for staff. In this case it would be like this Maintain the number of employees, the editorial line and the commitment not to resell then the media in a short time.
“It is a series of guarantees that cause us great concern, especially because the seller, John Elkann, has not been worried about it so far. In the meetings we have had with the company, they told us that we will have to negotiate this with the buyer later,” explains Alessandra Ziniti, member of the editorial board of The Republic. “But we will undertake all possible and imaginable mobilizations so that Elkann, now that he is leaving the publishing world, does not do so by running away with the money, but rather thinks about the families of 1,300 workers,” he concludes. Employees expect a response from the company within 48 hours.
The government met with employees and supported their demands for guarantees, although its sphere of influence is limited. On the other hand, various information suggests that before this movement the The Greek tycoon ensured that Meloni received approval.
In any case, in a clear reference to Bin Salmán, the executive called for transparency in the operation to ensure that actors outside the EU do not intervene. The Antenna Group confirmed that it would make the purchase with its own capital and the Saudi prince accused by the USA of murdering a journalist Washington Postwill not participate in the takeover.
Newspaper editors have already begun a series of strike daysconfronted by Elkann, whom they accuse of hiding the operation for months. In the case of La StampaAccording to the Agnelli family diary, the coup is even more symbolic for the city, which sees it as a betrayal. These days there are numerous letters from outraged and sad readers. Even Archbishop Roberto Repole has spoken out against the operation.
It also hurt a lot that before According to rumors, Juventus was also up for saleElkann, another gem of the family, appeared in a video on Saturday wearing a club jersey to reject him: “Juve, its history, its values are not for sale”. “That applies to football, but not to our newspaper and its more than 150-year history. History that you can sell without worrying about who you should sell it to (…).”
La Stampa Since 1926 it has been part of the same family and the same large industrial group, which is gradually disintegrating and destroying values and values,” said the editorial committee of the newspaper this Monday.
The Agnellis bought The Republic in 2019 to its historical owner Carlo De Benedetti (who later founded another newspaper, Domanito which part of the editorial team moved), but the crisis in the industry and the heavily criticized management ultimately led to the family getting rid of the entire media group. For La Stampa After years of synergies, it will be particularly damaging: “We are in a group with many intertwined activities and all the digital part, video, social networks, podcasts, are in a centralized structure and if we separate we will lose them, although they are a crucial part of the future of the sector,” explains Paolo Barone of the Editorial Board.
The entire Italian political class expressed solidarity with the affected journalists and called on the government to guarantee the independence of newspapers and media pluralism. Despite the current situation in the two newspapers, Giorgia Meloni rioted with attacks at her party’s youth party on Sunday evening The Republic and some of its journalists: “Today the PD (Democratic Party) is outraged because the Elkann want to sell the GEDI group and there would be no guarantees for the workers, but when the Stellantis factories (car brand owned by the same family) were closed and the workers lost their jobs, all silent, (Maurizio) Landini (chairman of the first Italian union, CGIL) also gave interviews.” The republic and on this subject he whistled.”
The newspaper’s editorial team rejected these allegations as “completely false”. In addition, Meloni attacked columnist Michele Serra for criticizing his party’s youth party. He defined it as a symbol of “the isolated and angry left” and devoid of “moral, cultural, political strength.”
About The Author
