Agnelli family media firm to sell La Stampa daily to SAE Group

Agnelli family media firm to sell La Stampa daily to SAE Group

Agnelli Family Media Firm to Sell La Stampa Daily to SAE Group

Italian media group GEDI, owned by the Agnelli family's holding company EXOR, has entered exclusive negotiations with regional publisher Gruppo SAE to sell La Stampa, one of Italy's most prominent newspapers. The transaction, which includes related assets and printing operations, marks a strategic shift for GEDI, which reported €224 million in sales and a €15 million loss in 2025. The newspaper, based in Turin and owned by the Agnelli family since the 1920s, is Italy's sixth-largest daily, with monthly print circulation of approximately 70,000 copies.

The sale follows earlier speculation about GEDI's potential divestiture of its Italian media assets, including La Repubblica and radio stations, to Greek firm Antenna. However, GEDI has pivoted to prioritize SAE's bid, which the Italian government appears to support. Undersecretary for Information and Publishing Alberto Barachini noted that SAE's proposal includes a "concrete and ambitious development plan" with commitments to asset protection and employment guarantees.

SAE, led by publisher Alberto Leonardis, already operates a network of regional titles and has acquired other local newspapers from GEDI, such as Il Tirreno and La Nuova Sardegna. The group's existing footprint in northern Italy, including titles like Gazzetta di Modena, positions it to integrate La Stampa into a broader regional information network. SAE's ties to local institutional stakeholders, including potential involvement from Piedmontese entities, further align with government priorities for territorial media sustainability.

The transaction will require approval under Italy's "golden power" legislation, which permits government oversight of strategic asset sales but excludes labor protections. GEDI's stake in La Stampa is valued at €118 million, or 0.3% of EXOR's net asset value, according to broker Intermonte.

Editorial boards within GEDI have raised concerns about preserving the identity of La Stampa and securing employment, though GEDI management has stated that safeguard clauses cannot be formally integrated into the sale process. Final terms of the deal remain subject to negotiations.

This development underscores ongoing challenges in Italy's media sector, as legacy publishers balance financial pressures with the need to maintain editorial independence and public trust.