A 5.2 million operation to which is added a small earn-out distribution from Chora that is given to the old shareholders. The wedding Il Sole 24 Ore talked about in advance in March has finally come to its point. With an M&A operation in the podcast sector that sees in the role of buyer Chora, a quality podcast company directed by Mario Calabresi (former director of Repubblica and La Stampa) and in that of the acquired company Will Media, a 100% social journalistic startup that creates digital editorial content, founded and led by Alessandro Tommasi.
Chora Media acquires Will
Therefore, as stated in the communication released in the morning, “Chora Media, podcast company founded by Guido Brera, Mario Calabresi (who directs it and is CEO), Mario Gianani and Roberto Zanco, acquires 100% of Will Media, media company founded in January 2020 by Alessandro Tommasi, Imen Boulahrajane, Davide Dattoli and Francesco Fumagalli, giving life to the first Italian center of digital native information in audio and video ». As co-founder, but no longer on the board of directors, Will counted Imen Boulahrjane better known as Imen Jane, the influencer on the shields for the very successful economic disclosure pills on Instagram, but then ended up at the center of the controversy for a false degree.
The negotiation therefore involved Is Media Srl on the one hand and Chora, a Be Content brand in turn 85% controlled by Be Water (whose main partners are Mario Gianani of the Wildside production company and Guido Maria Brera of Kairos Partners), with the sole director Mario Calabresi at 15 percent. Chora was born in late 2020.
Community of two million people
“The two companies together have a social community of 2 million people and over 3 million average monthly podcast audiences,” reads the note. «In a market that is growing as fast as the audio one, it was important to start consolidating and bringing together different experiences, backgrounds and sensibilities. We chose Will – explains Mario Calabresi, CEO of Chora Media – because he has a fresh and powerful ability to communicate and because he is complementary to Chora. The two realities will remain editorially independent, but will collaborate in identifying common projects, strategies and investments ». The acquisition, Calabresi is keen to point out, «does not arise from a need for efficiency but from the conviction that it is necessary to grow and continue to innovate. Together we give life to an idea of programming, which ranges from entertainment to information, truly new and completely digital ».
Sustainability challenge
«If finding a solution to the traditional press crisis is increasingly urgent and complex – comments Alessandro Tommasi, CEO and founder of Will Media – the challenge of publishing sustainability in the digital world is no less complex. To look for business models that lead precisely to the achievement of economic sustainability, the integration of innovative realities united by a similar mission, such as Chora and Will, is undoubtedly a way to go. The trend of consolidation in the market, both globally and locally, is increasingly evident and a necessary condition for growth ».