AGCM

The Italian Competition Authority has decided to launch an investigation into the acquisition of control of Italiana Editrice by Gruppo Editoriale L'Espresso. This merger was notified to the Authority, for the latter to carry out related assessments at the end of November.

The publishing groups involved in the concentration transaction are both active in newspaper and magazine publishing as well as in distribution and advertising on various forms of media.

In the markets of local newspaper advertising in the provinces of Turin and Genoa, the integration of the activities of the Manzoni and Publikompass concessionaires, which are subsidiaries of Gruppo Editoriale L'Espresso and Italiana Editrice respectively, will lead to the creation of monopoly or almost monopoly positions. Consequently, the investigation is intended to ascertain whether, in these markets, this concentration is likely to have a substantial and long-lasting impact on competitive dynamics.

The investigation shall be completed within 45 days from 11 January 2017, without prejudice to the deadline set for the Italian Communications Regulatory Authority (AGCOM) to issue its opinion.

Rome, 12 January 2017