Mondadori fusion-RCS, the Antitrust commence the investigations – The Republic

ROME – Now “Mondazzoli” is formally under the scrutiny of the Competition, which opened an investigation on the merger of Mondadori and RCS Libri. Operation that lead to the emergence of the national sample book publishing. The Antitrust Authority wants to see if this marriage “will result in the creation or strengthening of a dominant position” in publishing in Italy, where the sector is “very concentrated and vertically integrated.” Already today, around 60% is in the hands of five groups (Mondadori, RCS, Gems, Feltrinelli and Giunti) “all characterized, although to varying degrees, from vertical integration”.

Mondadori and RCS Books – note the ‘Antitrust – are “the closest competitors. The two groups are the major publishers of books varies in Italy and holds leading positions in the markets of fiction and nonfiction, and e-books. The operation, which can produce adverse effects on conditions for supply of books to readers, can also reduce the choice of the authors and a worsening of the terms of business practice “to the authors themselves.

The market sectors at risk are: 1) the acquisition of copyrights of Italian and foreign books of fiction and non-fiction; 2) the publishing of fiction and non-fiction; 3) the publishing of children’s books, comic book publishing, publishing and distribution of e-books. Under the lens Antitrust also distributing books “varies” to the big stores, the retail sale of books of “diverse” and retail online publishing products.

RCS MediaGroup put in an account strict examination of our Antitrust and has cautelata in the contract with Mondadori. The contract provides that any economic consequence for the decisions Authority will have no effect on the money confiscated by RCS MediaGroup. Mondadori – which took charge of 2.5 million of debt of RCS Books – estimated 127.5 million euro acquisition. This figure of 127,500,000 may increase or decrease up to 5 million, depending on the economic results of RCS Books in late 2015. And if in 2017 the RCS Books realize certain income, then the seller will be entitled to a bonus of 2, 5000000.
Mondadori SpA has signed a purchase contract of RCS Books on October 4, taking the share of 99.99% that the RCS MediaGroup had in RCS Libri. That day, the Mondadori has also won the “underlying investments”, namely 94.71 percent of Marsilio Editore. But it remained out of operation 58 percent that the RCS MediaGroup had in Adelphi Edizioni, which is finished to Roberto Calasso.
January 20, Ernesto Mauri has indicated in the March 31, the date of the verdict ‘Antitrust: “From what we are told – said the CEO of the Mondadori – there is no reason to delay. Antitrust we expect favorable conditions for the market, not penalties. In such a sensitive sector and shrinking as is books, needs to be done of the consolidation. ” The Antitrust Authority, however, specify that “the investigation will be completed within 45 days from January 21, 2016. To these should be added to the 30 days required to obtain the opinion of the Communications”, AgCom.

Arguments:

mondadori

RCS

Starring:

Marina Berlusconi