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Italian media company Prima TV has expressed an interest in acquiring a stake in Italian channel producer Giglio Group, ahead of its listing on the Italian Stock Exchange.
Giglio Group has been present in Italy for over 10 years with the channels Music Box, Yacht & Sail, Play.me, Acqua and, internationally, with the Nautical Channel (available on more than 100 distribution platforms and has 22 million subscribers), dedicated to sailing. Moreover, it is the first and only Italian TV group with a presence in China, providing content dedicated to Italian lifestyle.
According to Giglio Group, the deal would enable the two companies to establish a partnership that would create synergies of their activities both in Italy and abroad.
The goal of Giglio Group, which closed 2014 with a turnover of €11.5 million and a net profit of €1.4 million, is to continue its expansion in the world, reaching South America, Central America and South East Asia.
Prima TV is controlled by Quinta Communications, an investment holding in which Tunisian businessman Tarak Ben Ammar has 70 per cent and Egyptian businessman Naguib Sawiris the remaining 30 per cent. Besides being a national DTT network operator in Italy, Prima TV also owns shares in Italian and foreign companies operating in the TV and film industry.
Giglio Group is controlled by Italian businessman Alessandro Giglio who has 64.21 per cent and his Meridiana Holding with 15.76 per cent, while the remaining 20 per cent are in the hands of DMobileLab (part of Buongiorno).