2023-06-12 17:55:55
The shares of the Italian parent rose 10% this Monday. The ‘holding’ controlled by the Berlusconi family through Fininvest could get rid of the informative part
The media emporium created by Silvio Berlusconi could be for sale. And a few hours after learning the news of his death, the market, which does not pay attention to sentimentality, has reacted upwards, with large increases in the price of Media for Europe, the parent company of Mediaset Espaa. His shares shot up 10% in the first hours of trading to close with a rise of close to 6% in the case of class A shares.
Silvio Berlusconi made his media empire, created in the 1980s, his pressure tool in favor of his interests. He holding familiar, Fininvest, had assets valued at almost 5,000 million euros at the end of 2021. The capital was mainly in the hands of Berlusconi, with control of more than 61%, a stake that will now be inherited by the five children who are present in the company. The two largest, Pier Silvio and Marina Berlusconi, are the most relevant, and have 7.65% of the capital each.
In fact, Marina has been the top manager of Fininvest since 2005 and who is called to definitively lead the entire conglomerate. Pier, for his part, ran the television business, considered the jewel in the crown for its media impact, although he has not been exempt from controversy and doubts, in recent times, about its viability. As has happened with televisions around the world, Mediaset Italia has been suffering for years from the consequences of failing to adapt to the new era of television. streaming and new digital formats. Hence, a possible sale is thought of.
With the audience and advertising in a declining trend, faced with higher costs due to the need to adapt to a digital environment, the profit of Mediaset Italia closed 2022 at 95.9 million euros, compared to almost 273 million in 2021. In the case of its Spanish subsidiary, this benefit fell to 178 million euros, 2% less than a year earlier. Berlusconi decided, in fact, to delist the titles of mediaset space in a takeover bid that it launched last year to acquire 100% of the capital and, as a result of this measure, the share stopped quoting on May 2.
The fact that analysts and different Italian private bankers are in favor of a sale of Mediaset’s television business is consistent with the logic used by Fininvest in recent years, which has been getting rid of the less profitable or non-strategic businesses for the group. This is the case of the sale of AC of Miln in 2017 after more than three decades at the helm of the team. The operation was closed for an amount of 740 million euros to the Chinese group Rossoneri Sport Investment Lux.
In addition, Fininvest maintains control of the film production and distribution company Medusa, where they keep 40% of the capital under their control; at the advertising firm Mondadoriwith 53%, and retain 30% of the capital of Bank of Milan, one of the largest Italian banks, with 6,000 million euros of assets under management, according to Reuters estimates. Mondadori shares rose 1.5% yesterday in the session, while Banca Mediolanum scored 0.4%.
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