Session initiation soaring for the group L’Espresso after the agreement to merge with Itedi, the recommended companies of Fiat which controls La Stampa. The title jumped 8.3% to 1.07 euro, followed by the parent company Cir (+ 3.13%). Slides instead RCS (-4.59% to EUR 0.58) after the announcement of exit Fca with the allocation of shares in the group that publishes the Corriere della Sera to their members.
With the merger between group publishing Republic and Itedi, the subsidiary of Fiat with the Press and the nineteenth century, also owned by the Perrone family comes a publishing group with 5.8 million readers, 2.5 million daily unique users on news websites and revenues 750 million.
“it is threatening democracy in our country”: it is the judgment of Renato Brunetta, leader of Forza Italy in the House, the new publishing center was born from the merger L’Espresso-Itedi. “We have said and repeated many times in recent months against the wretched government measures and the behaviors driven by Matteo Renzi: and if he did Berlusconi. Today – says Brunetta in a note – it has to evoke the same adage talking about the super pole of information, with nearly six million readers estimates on paper and more than two and a half million unique users on the web, created from the merger between the Itedi, company that controls La Stampa and Il Secolo XIX, and the Group L’Espresso, Republic of owner and of the weekly addition to a number of local newspapers. First publishing group in Italy, one of the first in Europe. And if he did Berlusconi? We would have had daily filled with disgust comments, street demonstrations to defend freedom of the press, sinistrosi unleashed on talk shows against capitalism, opinion scandalized, purple people, orange people rainbow people. It would be hell broke loose. The truth is that such a thing Mr Berlusconi would never have made it, never even thought of. “
” Today – continues the exponent of Forza Italy – the news of Itedi-Group Espresso merger is announced in great fanfare by the parties concerned and treated with coldness and detachment from other media, including television news. The truth is that such a concentration of power is an absolute evil for a country western evolved as Italy. I’m not afraid to say that with a conglomerate of interests and finance of this kind, something never seen, is in danger of democracy in our country. Should reflect in many, we should worry everyone, “concludes Brunetta.
” The merger between the Espresso group and Itedi, which will contribute Repubblica, La Stampa and Il Secolo XIX in one publishing center is announced in any newspapers today without much comment, although an operation of this magnitude is likely to jeopardize not only the plurality of information, but above all employment and autonomy of warheads. If it had happened with Berlusconi already we would have the government ready to block any kind of action, the purple people and all the Democratic Party in the square while today the country remains immobile in the face of a situation that it should arouse, at least by those who have always defined intellectual left, some concern. ” So in a statement the deputy of Forza Italy Renata Polverini.
“The merger between the Itedi, parent company of La Stampa and Il Secolo XIX, and Group L ‘Espresso, which controls among others the daily Republic, looms a disconcerting scenario that is likely to lead to almost a monopoly of information in print in our country. All this is made even more alarming by the lack of response from other press. ” This was declared in a statement Mara Carfagna, a spokesman for Forza Italian Chamber of Deputies. “When Mediaset showed an interest in the acquisition of Rai Way pylons – remember the blue – there was a raising of the total shields and the operation, once the efficiency, was blocked by the government. Today instead looms the concentration of a good chunk of media power in the hands of a single group, with the risk of seeing reduced the plurality of information, all silent “.
” I, man of the Democratic Party, I say that is a bad thing, because there is less pluralism and worse. ” So the deputy dem Michele Anzaldi, member of the Supervisory Committee Rai, comments Affaritaliani.it the merger between L’Espresso and Itedi. “If I had, for example, a story that was rejected by the Republic me, why not evaluated this, I went to the press, but now I can not go. So, there is less pluralism and worse it is for everyone, “emphasizes Anzaldi. “After that, it is not a proposal of our law, but it is something that comes from the market. We take note. Besides talking about newspapers that have debts. Unless – in his pocket said the deputy renziano – do not put your hands Italians and do such as is done with the Rai, who pay Italians. But I do not think that the country is in these conditions. So you have to look to the future. “
” An act of courage and a bet on the future of the information world. ” To be defined as the agreement between the Gruppo Editoriale L’Espresso and La Stampa is Massimo Cestaro, Secretary SLC CGIL. In his view the operation “is certainly a highly significant news in the Italian press.”
The operation. Fca released from publishing to focus on self , yielding to its shareholders and the shares in RCS, currently equal to 16.7%, and both those Espresso received thanks to the merger. Cir will drop from 54% in the express now owned 43% of the new group. The shareholder Fca, Exor will in turn 5% of the new group and intends to establish an agreement with the holding company of the De Benedetti family. The reorganization thus also expresses all new alliance among families with publishing in the blood, and now in their second generation. And just this second generation has been directed to the operation, which involved directly John Elkann and Rodolfo De Benedetti, joined by Monica Mondardini.
Instead, as compared to RCS, the holding company of the Agnelli wants to dispose of the share that will receive the distribution to shareholders of the holding in the hands of Fca, is expected to be in the order of 5%, and has already announced plans to divest “in line with market practice.” It means that it will not seek a single shareholder buyer but selling arrangements, yet to be determined but should be such as to disturb the stock performance for volumes and prices.
With respect to the commitment in the group Corriere della Sera Fca has also reported that the operation was accomplished with the role played in RCS ‘sense of responsibility in the course of over four decades, which has saved the publishing group on three different occasions, “ensuring the Rizzoli the financial resources necessary to ensure their independence and preserve its authority.
the Perrone family, that after the union of La Stampa and Il Secolo XIX is 23% of Itedi – Fca has the 77% – will have 5% of the new Espresso with a commitment that, has announced the breadwinner Carlo Perrone, will be “long term”. The entire reorganization will have to be approved by June end with the signing of the definitive agreement, which also will set the exchange, and the merger is however expected in the first quarter of 2017. The company will remain listed on the Italian Stock Exchange and has already been clarified that He wants to keep the “complete independence” of each newspaper involved.
The merger, explained Espresso and Itedi, presents a significant industrial value, aiming to integrate two groups with complementary activities, creating increasing economies of scale. Offering a full range of multimedia content and information services on paper and digital, they explained, will have the capital strength and size to meet the challenges of the sector, by promoting innovative and original projects for a variety of platforms.
it is “looking to the future that today we announce this new publishing group”, a “compelling business project in the media and an act of confidence in the newspapers,” said John Elkann, signaling that will have the mission of ” driving and if possible to anticipate changes that will continue to emerge relentless pace in our industry. “
the operation” demonstrates the commitment of long-term Cir, its management, my family and myself in Espresso Group’s development, “said the president of CIR Rodolfo De Benedetti, also reporting to have” confidence in the Group’s prospects. ” With the Press and the Secolo XIX L’Espresso “will strengthen further, reaffirming its leadership in the Italian daily press,” she reported the director of delwgato Cir Monica Mondardini, anticipating “the necessary process of aggregation of the Italian publishing industry.”
“the mission of this house has always been the publishing industry, in the service of a civil growth of the country. With this commitment is reconfirmed and increased, “said the president of the Espresso Carlo De Benedetti.
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