La Repubblica, agreement reached by Gedi for sale to the Antenna Group

With the handover to the Greek group Antenna a long exit, made up of denials, exclusive negotiations, political alarms and tensions in the editorial offices, comes to an end. The sale of la Repubblica is the final step in an operation of progressive dismantling of the Gedi perimeter, already anticipated in recent weeks by the separate agreement for La Stampa with the Sae group.

To understand the weight of the operation, we need to go back to December 2019, when Exor signed the agreement to take over 43.78% of Gedi from CIR for 102.5 million euro, then launching the takeover bid and taking control of the group. At the time, the idea was to bring a large Italian information pole, with La Repubblica, La Stampa, radio, digital, and advertising concessionaire, under a single direction. Six years later, the political-industrial balance sheet of that investment tells a different story: Gedi remains a central brand in the media system, but for Exor it has become a marginal asset compared to the rest of the portfolio, while the group's accounts have continued to move in a difficult context for all traditional publishing.

The negotiations with Antenna were not born yesterday. Exor had confirmed in December 2025 exclusive talks with the Greek group, after months of indiscretions and interest from other parties. Since then, the dossier has become a political and trade union case. The government, on the voice of the undersecretary Alberto Barachini, asked for guarantees on pluralism and employment; the editorial boards of Repubblica and La Stampa denounced opacity, asking for protections on editorial independence.

In parallel, the negotiations dragged on well beyond the first deadline in January, with postponements and stitch-ups, until the final squeeze in March. The profile of the buyer helps to understand the extent of the phase change. Antenna is one of Greece's largest media groups and is traced back to the Kyriakou family; Theodore Kyriakou is its chairman and major shareholder.

Gedi's internal communication was followed by the company's announcement in a press release. In which it is stated that 'following the completion of the transaction, Mirja Cartia d'Asero, a highly experienced manager with a consolidated track record at the helm of organisations in the media and financial sectors, will assume the role of CEO of the GEDI Group. Mirja will work closely with GEDI's management to support the Group's development and internationalisation path. Mario Orfeo, editor-in-chief of the newspaper since 2024, will continue in his role at the head of la Repubblica, guaranteeing editorial and management continuity, while Linus will remain at the head of radio activities"