MILAN, March 4 (Reuters) - Italian media group GEDI has signed a preliminary deal with regional publisher SAE to sell newspaper La Stampa, the two companies said on Wednesday, putting an end to 100
Agnelli Family Sells La Stampa After a Century of Ownership in Italy
Historic Sale of La Stampa Newspaper
Background of the Agnelli Family and La Stampa
MILAN, March 4 (Reuters) - Italian media group GEDI has signed a preliminary deal with regional publisher SAE to sell newspaper La Stampa, the two companies said on Wednesday, putting an end to 100 years of ownership by the Agnelli family.
La Stampa, founded in 1867, is one of Italy's oldest and most prominent national dailies and has belonged to the family since 1926. It is based in the northern city of Turin, like the Fiat auto company which the Agnellis co-founded in 1899.
GEDI's Broader Media Strategy
Talks with Antenna and Other Media Assets
GEDI, controlled by the family's holding company Exor, said in December it was in talks with Greece's Antenna to sell all of its Italian news operations, which also include newspaper la Repubblica and a portfolio of radio broadcasters.
Sale to SAE and Exclusion from Antenna Deal
EXOR is expected to soon finalise the deal with the Greek group, but in the meantime it has found a different buyer for La Stampa, as Antenna, owned by K Group of the Kyriakou family, was not interested in it.
Editorial Impact and Political Context
Political Stance of La Stampa and la Repubblica
Both la Repubblica and La Stampa are left-leaning and highly critical of Prime Minister Giorgia Meloni's conservative government.
Concerns Over Editorial Independence
GEDI's announcement in December prompted concerns over editorial independence and potential job cuts, and was seen as another sign of the gradual disengagement from the Italy of the Agnelli family under the aegis of John Elkann, who is grandson of the late Fiat boss Gianni Agnelli.
Financial Details of the Transaction
GEDI's Financial Performance
GEDI reported sales of 224 million euros ($260.9 million) last year, when it posted a 15 million euros loss. The business is worth 0.3% of EXOR's net asset value, or 118 million euros, according to Italian broker Intermonte.
Acquisition Terms and Timeline
SAE's Acquisition Plan
SAE will complete the acquisition of La Stampa in the first half of 2026 through a vehicle company which is expected to include investors from Italy's north‑western regions, where La Stampa is based, the companies said on Wednesday.
Financial Details Not Disclosed
Their statement gave no financial details of the accord.
($1 = 0.8587 euros)
(Reporting by Claudia Cristoferi, editing by Alvise Armellini)
