Iervolino, who is (and what plans he has) the new publisher of Espresso
Danilo Iervolino, current patron of Salernitana, is the new editor of Espresso. The weekly directed by Lirio Abbate, under the new editorial leadership of Bfc Media, has announced its new multimedia system which will start from January 15, 2023
Officially inaugurated the Iervolino era for L'Espresso.
This summer Danilo Iervolino, former president of the Pegaso telematic university and current patron of Salernitana, became the new editor of Espresso .
On June 27, Bfc Media completed the acquisition from the Gedi group of the weekly founded by Arrigo Benedetti and Eugenio Scalfari 67 years ago .
In May, Bfc Media announced that it had signed, through its subsidiary L'Espresso Media, 51% owned by Bfc Media (of which Iervolino holds the controlling stake) and 49% by Idi with sole shareholder Danilo Iervolino, the contract preliminary with the Gedi group (of the Agnelli family holding Exor) for the acquisition of the weekly magazine and the Espress o Guides. The operation is worth 4.5 million euros.
During the week L'Espresso , under the new editorial leadership of Bfc Media, announced its new multimedia system starting from January 15, 2023. The director Lirio Abbate promises an "inclusive language" and a new magazine that "disrupts its foliation, with a graphic project that focuses on images: large and exclusive, often signed by great photographers ".
All the details.
HOW THE NEW LIRIO ABBATE ESPRESSO WILL BE
For the new Espresso, the photographs will not be “just a complement to the text, but a real story” explained the director Lirio Abbate, on the occasion of the presentation of the new multimedia system of the weekly, in Milan.
L ' Espresso, continues Abbate, "will keep its prestigious signatures and will host others, which will have fixed columns or collaborations that will tell the world exclusively". Among these, the writer Barbara Alberti. The fulcrum of the new magazine, says the editor, will be an increasingly strong "multimedia contamination in the paper newspaper: there will be a QR Code on each article that refers not only to reading but also to listening, to videos, and to everything that can enrich the service ".
Under the new domain of 'L'Espresso.it' you will find all the contents, including daily or serial podcasts, and even videos. Nft will then be created on the Polygon blockchain for each insert, with the 3D digital version of the covers of L'Espresso that made history.
IERVOLINO: ONE MILLION ONLINE SUBSCRIBERS GOAL FOR ESPRESSO
“We aim for one million online subscriptions in the next year, also focusing on B2B” announced the publisher of Bfc Media and L'Espresso, Danilo Iervolino. “We will be – he explained – the first 'Netzine', network and magazine, in a community on which we can debate: there will be a participation of users to deepen and discuss the contents with journalists.
“We want to start from this to create one of the largest magazines in Europe”. Iervolino promised: "We will be irreverent and disheveled, so that L'Espresso can represent a true standard-bearer in the change in publishing". It will be a weekly that “will embrace the causes of sustainability, interculturality, inclusion, smart city, telemedicine, micro-robotic etcetera: we are progressive and on this we will continue to be divisive”.
CHANGE OF OWNERSHIP FOR THE WEEKLY FOUNDED BY BENEDETTI AND SCALFARI
Thus ends the Gedi era for the weekly. On June 27, Bfc Media finalized the acquisition of Espresso from the Gedi group.
"The change of ownership has a highly symbolic value, because the weekly enters the orbit of an independent, modern and technological publisher, with major relaunch projects and prospects, and all the intention of expanding the readership base", read the press release from the new editor of L'Espresso .
The relaunch project envisages "the consolidation and development of the weekly, accompanied by a strong multimedia push through new technologies" adds the note.
COLLABORATION WITH THE GEDI GROUP
In detail, the agreement provides for various forms of collaboration with the Gedi group, including the continuation of the combination of the weekly L'Espresso with the Sunday edition of the Republic , the joint promotion of publishing initiatives, distribution services in newsstands and subscription management.
THE VALUE OF THE OPERATION
The company branches are acquired without debts or credits. The value of the transaction amounts to a maximum of 4.5 million euros, fully financed through cash and cash equivalents of Bfc Media, which will be paid in two solutions: the first of 2.5 million at the time of closing and the second by 31 December 2022. .
Furthermore, Bfc adds that the final outlay may be subject to decreases due to the deferrals relating to the sale of subscriptions already collected, but which will produce their effects in the coming months and that the Gedi group will transfer to the buyer.
In 2021, the weekly L'Espress o produced about 10 million in revenues, with an Ebitda margin in line with that of the publications published by Bfc Media, the note emphasizes.
WHO IS DANILO IERVOLINO
In addition to Espresso , the Neapolitan entrepreneur had already decided to invest in the world of football, buying the Salernitana team from Claudio Lotito for 10 million euros.
"Journalists are not denied, convinced that football and publishing are two worlds in which communication is a fundamental resource for developing business opportunities and consensus" underlines Prima Comunicazione .
Even before publishing and football, for Iervolino there was the revolution of the university offer in Italy with its telematic proposal.
FROM THE FOUNDATION OF THE PEGASO TELEMATIC UNIVERSITY
As recalled by Andrea Mainardi on Startmag “The father founded the Iervolino private schools, very widespread in Campania. Danilo updates the family core business. After graduating in Economics, he founded the Pegaso Telematic University – one of the most widespread in Italy. The idea came to him at the age of 26, after a trip to the United States ”.
"The telematic university was born not only as an American dream, but also thanks to the Moratti-Stanca decree which in 2003 liberalized teaching by also establishing this innovative form of education", Il Foglio recalled in a portrait of the entrepreneur from title: “Iervolino, the innovator who doesn't like Espresso”.
"Iervolino tells and feeds the Schumpeterian legend – emphasized the newspaper directed by Claudio Cerasa – that everything begins in a room three meters by three:" I wanted a university open to all, democratic, innovative that would favor the ascent in the social as in America and in which students could wear their education like a tailored suit and delivered to their homes. At that time few understood it, even fewer believed it. Not so Silvio Berlusconi, who signs an agreement with Pegaso for the training of young Italian leaders and thinks of him as regional coordinator of Forza Italia. Iervolino thanks, but does not bind, cultivates excellent relations with Vincenzo De Luca, proconsul of Salerno and governor of Campania, through his son Piero, deputy of the Democratic Party who defines him as a "serious, capable, passionate entrepreneur", approaches Matteo Renzi, but keeps the politics on a parallel path ”.
LEAVES THE OFFICE OF PRESIDENT OF THE PEGASO TELEMATICS UNIVERSITY
After that, Il Foglio writes: "Iervolino looks around and focuses on his other projects: sport, buying the Salernitana that Claudio Lotito had to sell for ten million euros, and publishing with Forbes Italia that had it a year earlier celebrated as one of the hundred best Italian entrepreneurs ".
These latter challenges lead him to leave his post as president of the Pegaso University.
In fact, on 29 April, Il Mattino reported that “Danilo Iervolino has resigned from his posts as director and chairman of the Board of Directors of the Pegaso SpA telematic University, Pegaso srl and Universitas Mercatorum. This decision, explains a note, “is linked to the growing work commitments of dr. Iervolino, as well as the new professional experiences he has undertaken, including the acquisitions of Us Salernitana 1919 and the Bfc Media Spa group ».
Blue Financial Communication Spa, Bfc Media, is an independent publishing house based in Milan, founded in 1995. Edita: Forbes ; Bluerating; Bike; Cosmos; Equos and Robb Report . The company is listed on the Euronext Growth Milan market of the Italian Stock Exchange.
WHICH PROJECTS DOES IERVOLINO HAVE FOR ESPRESSO?
But what projects does Iervolino have?
The entrepreneur at Prima Comunicazione said : “My business is all that is tech. I invest in cybersecurity, telemedicine, in all macro sectors. Why did I become interested in football and also in publishing? Not to emulate the success stories of other major entrepreneurs. But because I really believe that they are two sectors in which the audience, the fans, the readers, are not valued in terms of monetization and that technology can be very useful to modernize the system ".
TENDER OFFER FOR BFC MEDIA
In the meantime, Iervolino has already made a revolution in Bfc media , the buyer of L'Espresso . On 25 April, the Neapolitan entrepreneur through his company Idi promoted a takeover bid for the purchase of all the shares of Bfc Media, a company of which he now holds 51%, acquired by the founder Denis Masetti.
On 29 March, the sale of 51% of the share capital from Jd Farrods Group Luxembourg Sa to Idi Srl was completed.
GOVERNANCE
On April 21, the assembly of BFC Media, in addition to approving the 2021 Financial Statements, appointed the new Board of Directors: the President Denis Masetti confirmed; Mirko Bertucci and Alessandro Rossi, Marco Forlani (Chief Executive Officer), Paola Picilli (Independent Director), Mario Miele, Maurizio Milan and Massimiliano Muneghina join the Board.
THE RUDDER ENTRUSTED TO MARCO FORLANI
In fact, Iervolino has entrusted the position of CEO of Bfc Media to Marco Forlani. “Son of the former secretary and president of the Christian Democrats, Arnaldo Forlani, has been dealing with communication and external, institutional and international relations for 25 years – remarked Professione Reporter . “Since 2005 he has been senior vice president at Agustawestland and executive vice president at Finmeccanica. Since 2016 he has been a founding member of the Hdrà integrated communication group, of which he was CEO from 2017 to 2021 and of which he is still an executive senior partner. Among the many positions of Forlani all' Espresso they especially noticed this one in Hdrà, which deals with marketing for customers such as Alitalia, Caltagirone Group, Italian Post Office, Assopetroli, Football Federation, State Railways, Mediaset, Presidency of the Council, Rai , Wind, Telecom, Unicredit and Unipol. All companies on which L'Espresso has worked and works for news and inquiries, with possible future conflicts of interest, they say in the editorial office ”.
THE NUMBERS OF BFC MEDIA 2020
But how is Bfc Media doing? The company closed the financial year as at 31 December 2020 with a value of production equal to 8.25 million euros, up by 24% compared to the previous year. It recorded an EBITDA of 1.4 million euros, up 25% compared to 2019. The net positive result was 401 thousand euros (compared to the profit of 265 thousand euros in 2019). The net financial position is equal to 1 million euros.
IERVOLINO CONFIRMS THE MANAGEMENT OF ESPRESSO
As a sign of continuity with the previous management, Lirio Abbate, a journalist of great professionalism and courage, has been confirmed as Director of L'Espresso, as evidenced by her story, who has left her mark on investigative journalism. As confirmed are the editorial offices of Rome and Milan and the team of collaborators who will integrate with the entire multimedia system of BFC Media.
THE ENTRANCE OF IERVOLINO IN VERTIS
Finally, at the end of June Iervolino joined Vertis, an SGR active in the management of private equity and venture capital funds. The publisher of L'Espresso acquired a 6.2% stake through Idi Srl which it controls 100%.
The company has in fact completed some transfers of company shares. In addition to the entry of Iervolino, the Vice President Renato Vannucci increased his stake from 9% to 10% and the Giurazza family went from 54% to 60% of the Sgr.
This is a machine translation from Italian language of a post published on Start Magazine at the URL https://www.startmag.it/economia/iervolino-chi-e-e-che-piani-ha-il-nuovo-editore-dellespresso/ on Sat, 22 Oct 2022 06:00:27 +0000.