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Italy’s media sector has been jolted by confirmation that Exor, the Agnelli-Elkann family holding company, is in exclusive talks to sell most of the GEDI publishing group to Greece’s Antenna Group.
The prospect of a sale has triggered strikes, newsroom protests and calls for government intervention over the future of La Repubblica and La Stampa.
The ownership and independence of two of Italy’s most important newspapers have been put into question at a moment when legacy publishers are already under intense financial pressure. Journalists fear job losses and political interference, while politicians warn of further erosion of media pluralism.
According to a briefing sent by GEDI to editorial staff, the company aims to complete a transaction by January. That timetable prompted journalists at La Repubblica and La Stampa to mobilise immediately. Reporters at both titles have staged strikes and set up what they describe as permanent assemblies. La Stampa’s newsroom refused to publish on one day this week and cancelled a planned visit by President Sergio Mattarella in a show of solidarity after an attack on its offices.
Staff at La Repubblica announced a strike that included suspending website updates and the Saturday print edition, saying they are ready for a “season of struggle” unless job guarantees and respect for editorial lines are secured.
Antenna, led by Greek media owner Theodore Kyriakou, operates television channels alongside streaming, radio and digital services. However, the group has reportedly shown no interest in acquiring La Stampa, founded in 1867, complicating Exor’s plans. Industry reporting and unions say the most advanced alternative for La Stampa would be a separate sale to NEM, a northern Italian entrepreneur group that has previously bought regional titles from GEDI. That option raises concerns because technical, digital and social media systems are shared across the group.
The Italian government has been drawn into the dispute. Alberto Barachini, the undersecretary for information and publishing, urged GEDI executives to safeguard jobs and editorial independence during a meeting in Rome and called for transparency over the talks, Reuters reported. Opposition parties and trade unions have pressed the Meloni government to consider invoking Italy’s so-called golden power rules, which allow the state to vet or condition takeovers of strategic assets, particularly by non-EU buyers. Officials have noted that the rules cannot be used to protect employment, only to impose conditions on ownership transfers.
Political leaders have voiced alarm. “We are extremely concerned about the risks of weakening or even dismantling a fundamental bastion of democracy,” said Elly Schlein, leader of the Democratic party. “At stake is not just a publishing group, but the country’s historical and civic heritage.” Other opposition figures have framed the proposed sale as part of a broader retreat from Italy by the Agnelli family and warned of further damage to media pluralism.
GEDI’s finances help explain the pressure to sell. The group reported revenues of €224 million last year but a loss of €15 million, with print circulation for both national titles continuing to fall. Market estimates have put the value of the main assets at roughly €120 million to €140 million, with one broker citing the business as worth about 0.3% of Exor’s net asset value, or around €118 million. Exor has said it received several expressions of interest in recent years but did not pursue earlier approaches.
Antenna has not set out detailed plans for the Italian titles and critics question its experience of Italy’s media and political environment. GEDI has denied reports of parallel talks with other bidders while confirming that negotiations with Antenna are exclusive.
Journalists and unions are demanding binding clauses on employment continuity and explicit protections for editorial autonomy as conditions of any deal. La Stampa’s editorial staff described a recent meeting with management as “disconcerting, disheartening and humiliating” and said an employment continuity clause is essential if the paper is sold separately.
Source: Noah Wire Services
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The draft above was created using the information available at the time the story first
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Freshness check
Score:
8
Notes:
The narrative is recent, with the earliest known publication date being December 12, 2025. The report is based on a press release from GEDI, which typically warrants a high freshness score. However, similar content has appeared in other reputable outlets, such as Reuters, on December 11 and 12, 2025. ([reuters.com](https://www.reuters.com/business/italy-urges-agnellis-protect-jobs-independence-media-assets-sale-2025-12-12/?utm_source=openai)) This suggests that the information is not entirely original. Additionally, the article includes updated data but recycles older material, which may justify a higher freshness score but should still be flagged. The narrative has been republished across various platforms, indicating potential recycling.
