RCS MediaGroup explained

RCS MediaGroup S.p.A.
Native Name Lang:it
Type:Listed
Isin:IT0003039010
Foundation: (as A. Rizzoli & C.)
Hq Location:Via Angelo Rizzoli, 8
Key People:Urbano Cairo (Chairman and CEO)
Net Income: €85 million
Net Income Year:2018
Assets: €1368 million
Assets Year:2015
Equity: €254.0 million
Equity Year:2018
Footnotes:in a consolidated basis[1]

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.

History

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 (Rizzoli Libri) from RCS MediaGroup to Arnoldo Mondadori Editore.[3]

Timeline

The timeline of the company:[4]

Operations

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

Quotidiani (Newspapers) Sector

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

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
Magazines[19]

Pubblicità (Advertising) Sector

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

Other

Former sectors

RCS Libri

See 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] After the transaction, RCS Libri was renamed to Rizzoli Libri.[24] It owned the rights to use the brand Rizzoli in book publishing only. The partworks division was sold in 2011.[25]

Publishing houses[26]

Ownership

On 26 January 2005 shareholders which control 63.527% of ordinary share capital came to a shareholders' agreement freezing, the participants from selling or trading their holdings. 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]

External links

Notes and References

  1. Web site: 2015 Bilancio. 2015 Annual Report. 30 June 2016. 28 September 2016. RCS MediaGroup. it.
  2. Web site: RCS MediaGroup. Yahoo Finance. 2008-05-26.
  3. News: Italy Antitrust gives conditional go-ahead to Mondadori-RCS Libri merger. 24 March 2016. 2 April 2019. Reuters. Rome. Steve. Scherer.
  4. Web site: Our History. RCS MediaGroup. 26 May 2008. https://web.archive.org/web/20110718055130/http://www.rcsmediagroup.it/wps/portal/mg/aboutus/history?language=en. 18 July 2011. dead. dmy-all.
  5. RCS MediaGroup S.p.A.. International Directory of Company Histories. St. James Press (Gale Cengage group). Farmington Hills, Michigan. Drew D.. Johnson. 2018. 978-1-55862-992-9. 329–333. M. L.. Cohen. Victoria. Brinson. 193. first edition of the article appeared in vol. 96.
  6. News: RCS Editori to Launch Offer to Acquire France's Flammarion for $130.3 Million. 19 October 2000. 3 April 2019. The Wall Street Journal. Deborah. Ball. Thomas. Kamm. limited.
  7. News: RCS Mediagroup accepts offer from PRS for magazines . Jennifer Clark. Reuters. 19 June 2013.
  8. News: Italy's RCS MediaGroup sells Internet company Dada to Orascom . Jennifer Clark. Reuters. 11 July 2013.
  9. News: RCS Launches GazzaBet . Playtech. 10 September 2014.
  10. Web site: GazzaBet Official Site . September 2014.
  11. Web site: RCS in Russian deal with Global Media Publishing. https://archive.today/20100324035621/http://www.forbes.com/markets/feeds/afx/2008/03/10/afx4752536.html. dead. March 24, 2010. Forbes/AFX News. 10 March 2008. 26 May 2008.
  12. Web site: Quarterly Report. RCS MediaGroup. 14 April 2015. 30 September 2003.
  13. http://www.rcsmediagroup.it/wps/portal/mg/aboutus/companies/rcsquotidiani?language=en RCS Quotidiani
  14. http://www.rcsmediagroup.it/wps/portal/mg/business/otheractivities/sport?language=en RCS Sport
  15. http://www.rcsmediagroup.it/pagine/brands/#i-quotidiani Newspapers
  16. Web site: Corriere della Sera Testate Locali. RCSMediaGroup.it. 11 February 2019.
  17. Web site: Edizioni Locali – Corriere.it. Corriere della Sera. 11 February 2019.
  18. Web site: RCS Periodici. https://web.archive.org/web/20110718054104/http://www.rcsmediagroup.it/wps/portal/mg/aboutus/companies/rcsperiodici?language=en. dead. 2011-07-18. RCS MediaGroup.
  19. http://www.rcsmediagroup.it/wps/portal/mg/business/magazines?language=en Magazines
  20. http://www.rcsmediagroup.it/wps/portal/mg/aboutus/companies/rcspubblicita?language=en RCS Pubblicità
  21. http://www.rcsmediagroup.it/wps/portal/mg/aboutus/companies/rcslibri?language=en RCS Libri
  22. Mondadori: agreement to acquire RCS Libri. 4 October 2015. 2 April 2019. Arnoldo Mondadori Editore.
  23. Mondadori: closing of RCS Libri acquisition. 14 April 2016. 2 April 2019. Arnoldo Mondadori Editore.
  24. Birth today of Rizzoli Libri S.p.A. 14 April 2016. 2 April 2019. Arnoldo Mondadori Editore.
  25. News: Global Publishing Leaders 2012: RCS Libri (RCS MediaGroup). 25 June 2012. 3 April 2019. Publishers Weekly.
  26. Web site: RCS Books. RCS MediaGroup. 2009-11-01. https://web.archive.org/web/20110718054959/http://www.rcsmediagroup.it/wps/portal/mg/business/books?language=en. 2011-07-18. dead.
  27. RCS MediaGroup Board of Directors -Contract for the RCS Libri disposal signed. 4 October 2015. 2 April 2019. RCS MediaGroup. Milan.
  28. Disposal of RCS Libri completed. 14 April 2016. 2 April 2019. RCS MediaGroup.
  29. Web site: Consultation and Lock-up Shareholders' Agreement. 14 March 2008. 28 September 2016. RCS MediaGroup.
  30. Web site: Italmobiliare acquires from Italcementi 1.405% of Mediobanca and 2.332% of RCS Mediagroup. 22 December 2010. 29 September 2016. Italmobiliare.
  31. Web site: Share Capital Increase of RCS MediaGroup S.P.A.. 7 February 2013. 29 September 2016. Italmobiliare.
  32. Web site: Provvedimento N°26095 (C12050): International Acquisitions Holding / RCS MediaGroup. 6 July 2016. 28 September 2016. Autorità Garante della Concorrenza e del Mercato. it.
  33. Web site: DIEGO DELLA VALLE – MEDIOBANCA – PIRELLI – UNIPOL. 1 September 2016. 28 September 2016. Pirelli.
  34. Web site: Distribution of ordinary shares of RCS MediaGroup S.p.A.. 19 April 2016. 28 September 2016. Fiat Chrysler Automobiles.
  35. Web site: EXOR closed the sale of its participation in RCS Mediagroup . 9 June 2016. 29 September 2016. Exor.
  36. CONSOB data accessed on 26 September 2016

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