Categories: OLD Media Moves

Italian biz newspaper plans to go public

Spurred by higher values for business media properties such as The Wall Street Journal and Reuters, Italy’s largest business newspaper, Il Sole 24 Ore, will file an application to list its shares in the next two weeks, according to a story in the Financial Times.

Emily Backus and Andrew Edgecliffe-Johnson wrote, “A source close to Il Sole 24 Ore, which is wholly owned by Confindustria, Italy’s main business lobby group, said the company was aiming to make its market debut in November, putting a 32.5 per cent stake on the block.

“Il Sole 24 Ore is widely regarded in Italy as the business paper of record, and is among Europe’s largest business papers, with a daily circulation of 347,000 copies and an estimated 1.2m readers. Although it has seen little recent growth in circulation, it has boosted advertising revenues.

“The company was expected to announce a 27 per cent rise in gross profits (earnings before interest, tax, depreciation and amortisation) for the first half of the year at a board meeting Monday night. Ebitda for the first half of 2007 was €56m ($71.5m) on total revenues of €307m, versus an ebitda of €44m on revenues of €274m last year.”

Read more here.

Chris Roush

Chris Roush was the dean of the School of Communications at Quinnipiac University in Hamden, Connecticut. He was previously Walter E. Hussman Sr. Distinguished Professor in business journalism at UNC-Chapel Hill. He is a former business journalist for Bloomberg News, Businessweek, The Atlanta Journal-Constitution, The Tampa Tribune and the Sarasota Herald-Tribune. He is the author of the leading business reporting textbook "Show me the Money: Writing Business and Economics Stories for Mass Communication" and "Thinking Things Over," a biography of former Wall Street Journal editor Vermont Royster.

Recent Posts

Indianapolis Biz Journal seeks a news editor

The Indianapolis Business Journal is looking for our next news editor, a role that focuses…

4 hours ago

Axios hires Berkowitz as ME for media and markets coverage

Axios has chosen Ben Berkowitz to be its next managing editor of business and markets.…

8 hours ago

Business Insider hires Ortega as director of newsroom operations

Business Insider editor in chief Jamie Heller sent out the following on Monday: I'm thrilled…

9 hours ago

Rest of World promotes Chandran to deputy editor

Rest of World editor in chief Anup Kaphle sent out the following on Monday: We are excited…

10 hours ago

FT hires Venugopal as India newsletter editor

The Financial Times has hired Veena Venugopal as its India newsletter editor. She has been working at…

10 hours ago

FT taps Parkin to be Middle East and Africa news editor

Benjamin Parkin has been named Middle East and Africa news editor at the Financial Times, based…

13 hours ago