John Elkann ready to sell Repubblica and the other publications of the Gedi group
What does John Elkann want to do with publishing? This is the question that has been bouncing around for a few weeks on many analysts’ tables. On the one hand, on the occasion of the twentieth anniversary of the death of the lawyer – his grandfather – the big boss of Exor produced an elegy in the press, defending the goodness of the investment in Gedi. The holding company founded by Carlo Caracciolo and then taken over by Charles DeBenedetti was purchased for 102.4 million euros, with an operation completed in the first quarter of 2020.
An idea that wanted to bring publishing back to the heart of the business of Elkann and its holding company. After l’Economistafter the most faithful PressAfter The 19th century suddenly other national and local newspapers were added to the quiver of the lawyer’s favorite nephew, led by Repubblica and the mythological Espresso. During an interview by Maurizio Molinari with Elkann himself, the director of the newspaper of Largo Fochetti asked if there was any truth in the possible sale of Repubblica.
And the number one of Exoralmost indignantly, answered no, that they were “rumors that aim to generate instability. Republic it is an integral part of Cheetahand it’s going well: it’s been overtaking its main competitor for months now, Corriere della Sera, by number of unique users. Gedi is a beautiful editorial organization that brings together information and entertainment by focusing on innovation: One year after its launch, OnePodcast is number 1 in digital audio and its latest arrival, Stardust, is a leader in social media with huge potential. Strengthened by our past, we are building our future: the success of Limes confirms that if a publisher gives a journalism talented the freedom to express himself and to express his opinion, the challenge can be won”.
In short, it looked like a tombstone. And instead in Elkann’s head something was already moving if it’s true, as evidenced by the strike called by journalists, which is today ready to sell any title, after having given in to Danilo Iervolino the Espresso. The same entrepreneur from Campania was ready to take over Repubblica, according to rumors, but the deal would have failed due to the excessive power of the newspaper’s editorial staff.
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