Wikipedia

RCS MediaGroup

(Redirected from Rizzoli (publisher))
"Rizzoli Editore" and "Rizzoli (publisher)" redirect here. For the former book publishing subsidiary of the group, see Rizzoli Libri.

RCS MediaGroup S.p.A. (formerly Rizzoli-Corriere della Sera), based in Milan and listed on the Italian Stock Exchange, is an international multimedia publishing group that operates in daily newspapers, magazines and books, radio broadcasting, new media and digital and satellite TV. It is also one of the leading operators in the advertisement sales & distribution markets.

RCS MediaGroup S.p.A.
Company typeListed
BIT: RCS
ISINIT0003039010
IndustryMedia
Founded1927; 97 years ago (1927) (as A. Rizzoli & C.)
FounderAngelo Rizzoli
HeadquartersVia Angelo Rizzoli, 8,
Milan
,
Italy
Key people
Urbano Cairo (Chairman and CEO)
ProductsMagazines
Newspapers
Radio
Television
Advertising
New Media
Increase €85 million (2018)
Total assetsDecrease €1368 million (2015)
Total equityIncrease €254.0 million (2018)
Owner
ParentCairo Communication
Websitercsmediagroup.it
Footnotes / references
in a consolidated basis[1]

History

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Founded in 1927 by entrepreneur Angelo Rizzoli as A. Rizzoli & C., it started in the press industry by buying out four national magazines, and later entering the publishing industry. Restructured and taken over a number of times, particularly in the 1980s when two of its executives became involved in the collapse of Banco Ambrosiano and the illegal Masonic Lodge Propaganda Due – or P2. Following the 1982 death of Roberto Calvi, the group applied for bankruptcy protection and greatly downsized.[2]

In 2016, Cairo Communication acquired the controlling stake of RCS MediaGroup. In the same year, Italian Competition Authority approved the sales of RCS Libri (a.k.a. Rizzoli Libri) from RCS MediaGroup to Arnoldo Mondadori Editore.[3]

Timeline

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The timeline of the company:[4]

  • 1927 – Angelo Rizzoli launches publishing activities at his printing company "A. Rizzoli & C."[5]
  • 1952 – company was renamed "Rizzoli Editore"
  • 1974 – company purchased "Editoriale Corriere della Sera S.a.s.", which publishes the daily newspaper Il Corriere della Sera
  • 1976 – company took over management of La Gazzetta dello Sport
  • 1984 – Gemina acquired controlling holding of Rizzoli
  • 1990 – acquisition of holding in Spanish company Unidad Editorial S.A., the present day holding of which is 96.1%
  • 1997 – Rizzoli-Corriere della Sera was separated from Gemina’s other industrial activities, which were transferred to the new holding company HdP
  • 2000 – acquisition of French publishing house Editions Flammarion[6]
  • 2001 – creation of Fondazione Corriere della Sera
  • 2002 – acquisition of holding in Dada S.p.A., which at present stands at 46.54%
  • 2003 – company was renamed RCS MediaGroup
  • 2006 – acquisition of first holding in Digicast, which is now a wholly owned subsidiary
  • 2007 – acquisition, through Unidad Editorial, of Spanish publishing group Recoletos Grupo de Comunicaciòn
  • 2007 – acquisition of 34.6% of Finelco Group
  • 2008 – acquisition, through Unidad Editorial, of 100% of VEO Television (already held at 55,4%)
  • 2012 – divestiture of Flammarion to Éditions Gallimard
  • 2013 – In June 2013, the media group accepted an undisclosed offer from PRS S.r.l. to buy 14 magazines, it had put up for sale as part of its restructuring plan.[7] In July, sold Dada S.p.A.[8]
  • 2014 – In September 2014, RCS MediaGroup in association with Playtech[9] launched an online sport betting portal under the brand GazzaBet.[10]
  • 2015 – Sold RCS Libri

Operations

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RCS MediaGroup's sectors include newspapers, magazines and books, radio broadcasting, the internet and digital and satellite TV; it also has a division which handles advertising sales & distribution markets across all media divisions. In Italy, the group manages large daily newspapers such as Corriere della Sera, publish popular magazines including Il Mondo; and a diverse range of school, university, and business publications.[2]

In Spain, through Unedisa it publishes leading daily newspaper El Mundo.[2] It also has representation in Portugal, the United States and China. Already distributing the Italian version, in March 2008, RCS reached agreement with Global Media Publishing to launch a Russian version of its Sport Week magazine and develop a Russian language website sportweek.ru, which will be supplemented with mobile phone services.[11]

The financial investment division holds interest in the capital of major Italian companies, including Banca Intesa, the internet company Dada, and Pirelli (which holds a complementary cross-holding).[2]

The company employs 5,558 employees.

Sectors

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Quotidiani (Newspapers) Sector

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Quotidiani Sector is the publisher of the group's daily newspapers in Italy and in Spain.[12] The company holds a leadership position in the national daily press in Italy, where it has a 19% market share, and in Spain, with an 18% market share.[13]

Companies[13]
Newspapers[15]

Periodici (Magazines) Sector

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Periodici Sector publishes the group's magazines. In Italy the company has a market share of about 18%, with a portfolio of more than 30 publications.[18]

Companies[18]
Magazines[19]

Pubblicità (Advertising) Sector

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Pubblicità Sector is the agency for the acquisition of advertising customers for the group's publications. It is the leading company in Italy for the acquisition of advertising for print media, for which it has a market share of 19%.[20]

Companies[20]

Other

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  • m-dis (45%)
  • Agenzia Giornalistica RCS, a news agency, which provides news and editorial content on radio, television and regional Italian web sites.

Former sectors

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RCS Libri

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Main article: Rizzoli Libri

RCS Libri runs the group's activities in the book publishing sector. Its structure comprises four divisions: RCS Libri Italia, RCS Education, RCS Partworks, and Rizzoli USA.[21] The whole division was sold to Arnoldo Mondadori Editore, with some imprints were sold to other investors.[22][23][24] After the transaction, RCS Libri was renamed to Rizzoli Libri.[25] It owned the rights to use the brand Rizzoli in book publishing only.[22] The partworks division was sold in 2011.[26]

Publishing houses[27]

Ownership

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On 26 January 2005, the shareholders which control 63.527% of ordinary share capital came to a shareholders' agreement freezing, the participants from selling or trading their holdings.[citation needed] On 14 March 2008, the pact agreed to extend their agreement for another three years until 2011.[29] Italmobiliare, a company in the pact, acquired 2.332% stake of RCS from their subsidiary Italcementi in 2010, making the stake held by Italmobiliare increased to 7.465%.[30] Italmobiliare did not excised all of their rights in the capital increase, making the company owned just 3.0042% of the share capital and 3.7469% ordinary shares of RCS.[31]

In 2016, Urbano Cairo, via Cairo Communication, successfully completed a hostile takeover of RCS MediaGroup. However, Mediobanca, Unipol, Pirelli, Diego Della Valle and a private equity fund International Acquisitions Holding[32] formed a new shareholders pact that opposed to Cairo;[33] their offer to the public was lost to the offer from Cairo.

Earlier that year, Fiat Chrysler Automobiles (FCA), a company of the 2008 pact, distributed the shares of RCS the company owns (16.7% of the share capital), to the shareholders of FCA,[34] making the shareholders of FCA freely decided to sell the shares of RCS to either factions or kept the shares as their own investments; Exor, the major shareholder of FCA, sold the stake of RCS immediately.[35]

Major shareholders of RCS MediaGroup with >2% stake

As of 26 September 2016[36]

References

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  1. ^ "2015 Bilancio" [2015 Annual Report] (PDF) (in Italian). RCS MediaGroup. 30 June 2016. Retrieved 28 September 2016.
  2. ^ a b c d "RCS MediaGroup". Yahoo Finance. Retrieved 2008-05-26.
  3. ^ Scherer, Steve (24 March 2016). "Italy Antitrust gives conditional go-ahead to Mondadori-RCS Libri merger". Rome. Reuters. Retrieved 2 April 2019.
  4. ^ "Our History". RCS MediaGroup. Archived from the original on 18 July 2011. Retrieved 26 May 2008.
  5. ^ Cohen, M. L.; Brinson, Victoria (2018) [first edition of the article appeared in vol. 96]. Johnson, Drew D. (ed.). "RCS MediaGroup S.p.A.". International Directory of Company Histories. 193. Farmington Hills, Michigan: St. James Press (Gale Cengage group): 329–333. ISBN 978-1-55862-992-9.
  6. ^ Ball, Deborah; Kamm, Thomas (19 October 2000). "RCS Editori to Launch Offer to Acquire France's Flammarion for $130.3 Million". The Wall Street Journal. Retrieved 3 April 2019.
  7. ^ Jennifer Clark (19 June 2013). "RCS Mediagroup accepts offer from PRS for magazines". Reuters.
  8. ^ Jennifer Clark (11 July 2013). "Italy's RCS MediaGroup sells Internet company Dada to Orascom". Reuters. Archived from the original on December 20, 2016.
  9. ^ Playtech (10 September 2014). "RCS Launches GazzaBet".
  10. ^ "GazzaBet Official Site". September 2014.
  11. ^ "RCS in Russian deal with Global Media Publishing". Forbes/AFX News. 10 March 2008. Archived from the original on March 24, 2010. Retrieved 26 May 2008.
  12. ^ "Quarterly Report" (PDF). RCS MediaGroup. 30 September 2003. Retrieved 14 April 2015.
  13. ^ a b RCS Quotidiani RCSMediaGroup.it
  14. ^ RCS Sport RCSMediaGroup.it
  15. ^ Newspapers RCSMediaGroup.it
  16. ^ "Corriere della Sera Testate Locali". RCSMediaGroup.it. Retrieved 11 February 2019.
  17. ^ "Edizioni Locali – Corriere.it". Corriere della Sera. Retrieved 11 February 2019.
  18. ^ a b "RCS Periodici". RCS MediaGroup. Archived from the original on 2011-07-18.
  19. ^ Magazines RCSMediaGroup.it
  20. ^ a b RCS Pubblicità RCSMediaGroup.it
  21. ^ RCS LibriRCSMediaGroup.it Archived 2011-07-18 at the Wayback Machine
  22. ^ a b c "RCS MediaGroup Board of Directors -Contract for the RCS Libri disposal signed" (Press release). Milan: RCS MediaGroup. 4 October 2015. Retrieved 2 April 2019.
  23. ^ "Mondadori: agreement to acquire RCS Libri" (Press release). Arnoldo Mondadori Editore. 4 October 2015. Retrieved 2 April 2019.
  24. ^ "Mondadori: closing of RCS Libri acquisition" (Press release). Arnoldo Mondadori Editore. 14 April 2016. Retrieved 2 April 2019.
  25. ^ "Birth today of Rizzoli Libri S.p.A" (Press release). Arnoldo Mondadori Editore. 14 April 2016. Retrieved 2 April 2019.
  26. ^ "Global Publishing Leaders 2012: RCS Libri (RCS MediaGroup)". Publishers Weekly. 25 June 2012. Retrieved 3 April 2019.
  27. ^ "RCS Books". RCS MediaGroup. Archived from the original on 2011-07-18. Retrieved 2009-11-01.
  28. ^ "Disposal of RCS Libri completed" (Press release). RCS MediaGroup. 14 April 2016. Retrieved 2 April 2019.
  29. ^ "Consultation and Lock-up Shareholders' Agreement" (PDF). RCS MediaGroup. 14 March 2008. Retrieved 28 September 2016.
  30. ^ "Italmobiliare acquires from Italcementi 1.405% of Mediobanca and 2.332% of RCS Mediagroup". Italmobiliare. 22 December 2010. Retrieved 29 September 2016.
  31. ^ "Share Capital Increase of RCS MediaGroup S.P.A." Italmobiliare. 7 February 2013. Retrieved 29 September 2016.
  32. ^ "Provvedimento N°26095 (C12050): International Acquisitions Holding / RCS MediaGroup" (PDF) (in Italian). Autorità Garante della Concorrenza e del Mercato. 6 July 2016. Retrieved 28 September 2016.
  33. ^ "DIEGO DELLA VALLE – MEDIOBANCA – PIRELLI – UNIPOL". Pirelli. 1 September 2016. Retrieved 28 September 2016.
  34. ^ "Distribution of ordinary shares of RCS MediaGroup S.p.A." (PDF). Fiat Chrysler Automobiles. 19 April 2016. Retrieved 28 September 2016.
  35. ^ "EXOR closed the sale of its participation in RCS Mediagroup" (PDF). Exor. 9 June 2016. Retrieved 29 September 2016.
  36. ^ CONSOB data accessed on 26 September 2016
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