Agnelli Family’s Media Firm Should Stay Italian, Minister Says
(Bloomberg) — Italy’s foreign minister said the Agnelli family-owned Gedi Gruppo Editoriale SpA media company should remain in Italian hands to protect press freedom as sales talks with Greece’s Antenna Group continue.
“It would be better for everyone, in terms of freedom of the press and in the national interest, if Italian newspapers remained in Italian hands,” Antonio Tajani, also deputy prime minister, told reporters on Saturday. “But as long as the law is not broken, the market will decide.”
Gedi, owned by Agnellis’ investment vehicle Exor NV, owns La Repubblica and La Stampa, two of the country’s most influential newspapers. They are also seen as one of the most hostile publications towards the government of Giorgia Meloni.
Newsrooms at both newspapers went on strike this week to protest the potential sale, seek job security and criticize how private conversations were kept secret until Gedi was forced to confirm them last week.
Another deputy prime minister, Matteo Salvini, who heads the far-right League, responded to Tajani’s remarks by saying he was focused on protecting jobs but that it was “surreal” that the government would decide who would buy the group, according to reports.
If the government deems the sale to be strategic in the national interest, it can technically apply its so-called gold power to the transaction. Although the opposition has called for the laws to be implemented, there is no indication yet that this will happen. Rome has faced close scrutiny from the EU over the implementation of laws it is currently re-evaluating.
Italian media reported that Antenna had signaled interest in valuing Gedi at around €140 million ($164 million), but the companies have not commented publicly on the value of the transaction. Antenna is eyeing at least three potential targets in Italy amid its expansion efforts, Bloomberg reported.
Journalists’ unions have long condemned political interference in the country’s media environment. In the world press freedom index compiled by Reporters Without Borders, Italy ranks 49th out of 180 countries, the lowest ranking in Western Europe. This compares to a ranking of 46 in 2024.
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