De Agostini Acquires Magnolia Stake

MILAN, January 11: Italy's
De Agostini, which owns 40 percent of Antena 3 in Spain, has signed a deal to
acquire a 53.5-percent stake in the Italian production outfit Magnolia,
according to press reports.

Magnolia’s present owners
will retain the remaining 46.5 percent stake. Giorgio Gori will continue to run
the company as chief executive. He owns approximately 25 percent of Magnolia.
Lorenzo Pellicioli, the managing director of De Agostini, will be chairman of
Magnolia.

“With this acquisition, De
Agostini will strengthen its position in Italy and abroad in the key media
sector,” Pellicioli is quoted as saying.