Greek Antenna Group Acquires GEDI as Agnelli Family Ends Century in Italian Media

The Greek Antenna Group, owned by the Kyriakou family, completed its acquisition of 100% of Italian media group GEDI Gruppo Editoriale on Monday, March 23, marking the end of the Agnelli family's presence in Italian publishing after more than a century. Paolo Ceretti, GEDI's president, announced the completion to employees, writing that the transfer of 100% of GEDI's capital to Antenna was now effective and followed "a process of long negotiation." The deal, structured through K Group — the holding company of the Kyriakou family — covers la Repubblica, radio stations Radio Deejay, Radio Capital and m2o, as well as HuffPost Italia, Limes, National Geographic Italia, and advertising agency Manzoni. Separately, the historic Turin daily La Stampa was sold to Italian regional publisher SAE, which had previously acquired several local titles from GEDI. The financial terms of neither transaction were disclosed.

The Agnelli family, one of Italy's most prominent industrial dynasties and founders of Fiat, built their media presence over decades through successive acquisitions. GEDI Gruppo Editoriale was created when Exor, the Agnelli-Elkann family holding company, merged la Repubblica, La Stampa, and the Finegil regional newspaper network into a single group. The Italian print media sector has faced sustained structural decline, driven by falling circulation and the shift of advertising revenue to digital platforms. John Elkann had indicated in mid-December 2025 that he was in advanced discussions with Antenna Group, and GEDI signed a preliminary agreement with SAE for La Stampa in early March 2026.

„Publishing is a profession that can be carried out independently only if the accounts are in order. My family and I have always considered publishing as a profession that lives thanks to its readers, but unfortunately in Italy owning a newspaper is considered an instrument of influence and power, not a profession.” (Publishing is a profession that can be carried out independently only if the accounts are in order. My family and I have always considered publishing as a profession that lives thanks to its readers, but unfortunately in Italy owning a newspaper is considered an instrument of influence and power, not a profession.) — John Elkann via ANSA

John Elkann, who serves as chief executive of Exor, acknowledged the failure of the group's digital transformation strategy in the same interview. He said that when Exor acquired la Repubblica and Finegil and merged them with La Stampa to form GEDI, the family believed a deep digital overhaul would return the group to profitability. Over the years, he said, it became clear that was not achievable, because the structural crisis in print required either greater scale or, for local papers, a fundamental reconfiguration around their communities. Elkann also pushed back against criticism that he should have sought Italian buyers, arguing that national ownership in itself does not guarantee a company's health, citing the Comau and Iveco transactions as precedents where Italy remained central despite foreign involvement.

New CEO named as journalists voice sharp criticism Mirja Cartia d'Asero will take over as CEO of GEDI, replacing Gabriele Comuzzo, who resigned. Antenna Group stated it plans to invest "new and significant resources" to expand la Repubblica's reach and guarantee its editorial independence, and confirmed that director Mario Orfeo, who has led the paper since 2024, will remain in place to ensure continuity. Linus will retain leadership of the group's radio operations. The journalists' assembly at la Repubblica issued a pointed statement, noting that Exor chose to announce the sale on the same day Italy was voting in a constitutional referendum on judicial reform — a moment the editorial committee described as "the ultimate lack of respect toward the newspaper and its history by the now former publisher." The statement added: "We will not miss him." Journalists at both la Repubblica and La Stampa have raised concerns over editorial independence and potential layoffs, and both Antenna and SAE have offered assurances on those points. A journalist assembly at la Repubblica was scheduled for Tuesday, March 24.

Antenna eyes a Mediterranean media hub from Rome For Antenna Group, the acquisition represents a strategic push to build what the company described as a media hub in the Mediterranean, combining publishing, radio, digital, and audiovisual content. The group, which has been active in media and entertainment for four decades, said the deal would allow it to develop new synergies across platforms. Elkann framed the choice of Antenna specifically as advantageous for la Repubblica, saying the Greek group's international reach and experience in multimedia innovation would make the technological investments the sector needs — including in artificial intelligence — financially sustainable. For La Stampa, he argued that SAE's roots in regional publishing would provide the stability and community ties that a paper so closely identified with Turin and Piedmont requires. The sale of a separate GEDI unit called Stardust, excluded from the main transaction scope, was also expected to proceed under a separate agreement. The completion of both deals closes a chapter that Elkann himself described as one that leaves him saddened, even as he expressed conviction that the new owners offer the best path forward for the journalists involved.