- Exor in exclusive talks to sell most of GEDI to Greece’s Antenna Group
- Italian journalists strike and protest over job security and editorial independence
- Government and unions scrutinise deal amid fears for media pluralism and democratic heritage
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
- https://www.wantedinrome.com/news/proposed-sale-of-two-leading-italian-newspapers-to-greek-media-giant-sparks-alarm-in-italy.html – Please view link – unable to able to access data
- https://www.reuters.com/business/italy-urges-agnellis-protect-jobs-independence-media-assets-sale-2025-12-12/ – Italy’s government has urged GEDI, owned by the Agnelli family’s holding company Exor, to ensure job protection and editorial independence during negotiations to sell key media assets. GEDI is in talks with Greece’s Antenna Group about selling its Italian news operations, including the newspapers La Stampa and La Repubblica, as well as three radio stations. Italy’s undersecretary for publishing, Alberto Barachini, stressed the importance of transparency and requested information on the sale terms, underscoring concerns over foreign (non-EU) ownership under Italy’s “golden power” rules—legislation allowing the government to intervene in deals involving strategic assets. Although these rules cannot be used to protect employment, they can impose restrictions on deals involving non-EU buyers. Both newspapers’ staff have gone on strike, with concerns about Antenna’s disinterest in La Stampa and doubts about the group’s ability to navigate Italy’s media environment.
- https://www.reuters.com/world/meloni-government-signals-concern-agnellis-prepare-sell-media-assets-italy-2025-12-11/ – Italy’s government has expressed concern over GEDI’s potential sale of its media assets, including prominent newspapers La Repubblica and La Stampa, to Greek media group Antenna. GEDI, owned by the Agnelli family’s Exor, confirmed it is negotiating the sale, prompting political backlash and protests from journalists. La Stampa, owned by the Agnellis since the 1920s, did not publish on Thursday due to a strike, while La Repubblica staff may follow suit. Opposition figures, such as Democratic Party leader Elly Schlein and former minister Carlo Calenda, fear the sale represents a broader retreat from Italy by the Agnellis and poses risks to media pluralism, jobs, and editorial independence. Although the sale would fall under Italy’s “golden power” rules to protect strategic assets, there’s no sign Prime Minister Giorgia Meloni will intervene, despite the newspapers’ past criticism of her government. Print sales for both papers have declined significantly, and GEDI has operated at a loss. The controversy ties into wider concerns over Exor’s strategy and its reduced industrial presence in Italy.
- https://www.euronews.com/business/2025/12/12/italian-media-braces-for-shake-up-as-greek-buyer-swoops-in-for-gedi – The Gedi group, which publishes iconic Italian newspapers such as La Repubblica and La Stampa as well as national radio and digital assets, is currently at the centre of one of the most controversial operations in the Italian media landscape. After weeks of rumours, Exor, the holding company of the Agnelli-Elkann family that controls the group, has confirmed that it is in exclusive negotiations with the Greek group Antenna, led by Theodore Kyriakou, for the sale of most of Gedi’s assets. The official confirmation of the negotiations triggered an immediate reaction in the newsrooms. Journalists at La Stampa called a permanent assembly and a strike, which resulted in the newspaper not being published and the website not being updated for an entire day on Thursday. A similar mobilisation was announced by colleagues at La Repubblica, who said they would suspend their participation in non-essential editorial initiatives until clear guarantees are provided regarding the industrial plan, employment, and editorial independence. The editorial boards strongly criticised the sale, calling it a “horrible spectacle” and noting that no assurances have been given about the future of the newspapers, the financial solidity of the buyer, or the protection of journalistic professionalism.
- https://www.ekathimerini.com/economy/1274359/antenna-group-expresses-interested-in-buying-major-italian-dailies-says-report/ – Italy’s Agnelli family received several expressions of interest for GEDI, the publisher of Italian dailies La Repubblica and La Stampa, but no deal has been reached, a spokesperson for the family’s holding company EXOR said on Thursday. Italian newspaper Il Foglio reported that EXOR, which also is the single largest shareholder in carmaker Stellantis, is considering the sale of GEDI. It added that French media group Vivendi and Greek media company Antenna Group were potential buyers. “With reference to reports regarding GEDI Group, Exor says it has received several expressions of interest in these past years, but none of them have been followed up,” a spokesperson told reporters on the sideline of an event in Turin. GEDI reported sales of €224 million last year, when it posted €15 million loss. The business is worth 0.3% of EXOR’s net asset value, or €118 million, according to Italian broker Intermonte.
- https://greekcitytimes.com/2025/12/13/gedi-sale-to-antenna-ignites-protests-e120m-deal-threatens-editorial-independence-in-italy/ – The GEDI sale to Antenna has plunged Italy’s media sector into turmoil, with journalists at flagship newspapers La Repubblica and La Stampa launching strikes and permanent assemblies in fierce opposition to the Agnelli-Elkann family’s plan to divest from the historic publishing group. Exor, the holding company controlled by John Elkann and the Agnelli family, confirmed on December 7, 2025, that it is in exclusive negotiations with Greece’s Antenna Group, led by media magnate Theodore Kyriakou, for the sale of most of GEDI’s editorial assets. The deal, valued between €120 million and €140 million, targets La Repubblica—including its digital platforms, video operations, and verticals like Gusto and Italian Tech—along with three major radio stations: Radio Deejay, Radio Capital, and m2o. HuffPost Italia is also slated to follow La Repubblica into Antenna’s portfolio. La Stampa’s future remains uncertain, as Antenna has reportedly shown no interest in the Turin-based daily. Exor is exploring separate sales, with Italian consortium NEM–NordEst Multimedia leading preliminary discussions alongside northwestern partners. Should no domestic deal materialize in the coming months, La Stampa could be bundled temporarily with the Antenna acquisition. The announcement has unleashed widespread backlash. On December 12, La Stampa’s newsroom halted publication entirely for the day, citing a “lack of transparency” from GEDI management. La Repubblica journalists followed with a strike on December 13, suspending non-essential work and demanding guarantees on editorial independence, job security, and a clear industrial strategy. Editorial staff across both outlets decried the process as a “horrible spectacle,” highlighting the absence of commitments on the buyer’s financial stability or safeguards for journalistic integrity. GEDI, which Exor acquired control of in 2019, reported €224 million in revenue last year but posted a €15 million loss amid digital transition pressures. The assets represent just 0.3% of Exor’s €118 million valuation, dwarfed by its stakes in global giants like Stellantis and Ferrari.
- https://www.journalismpakistan.com/italy-media-leaders-weigh-sale-of-gedi-assets-amid-newsroom-unrest – Italy’s publishing undersecretary summoned representatives from Gedi and editorial staff for explanations, citing the need for transparency as scrutiny mounted over the country’s golden power rules. While the government has not indicated it will block the deal, officials noted that any transfer of strategic media assets requires careful assessment. Opposition lawmakers echoed those concerns and called for parliamentary oversight of the potential acquisition. They argued that Italy’s legacy newspapers play an essential democratic role, and any ownership shift must ensure safeguards for newsroom autonomy and public-interest journalism. Within Gedi, employees at La Repubblica and La Stampa expressed uncertainty about the buyer’s long-term strategic intentions. Antenna Group, a major media company in Greece with regional broadcasting holdings, has not publicly commented on its editorial plans for the Italian titles. The potential deal comes at a time when European media groups are facing heavy financial pressures, prompting consolidation and cross-border acquisitions.
Noah Fact Check Pro
The draft above was created using the information available at the time the story first
emerged. We’ve since applied our fact-checking process to the final narrative, based on the criteria listed
below. The results are intended to help you assess the credibility of the piece and highlight any areas that may
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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.
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