(Bloomberg) -- The family of former Italian Prime Minister Silvio Berlusconi is in advanced talks to sell Il Giornale, the Milan-based daily that rose to prominence among conservatives starting in the 1970s.
Advisers for entrepreneur Antonio Angelucci and Berlusconi family representatives have been in contact about a sale, and a deal could be announced as soon as this month, according to people familiar with the matter, who asked not to be named since the talks aren’t public. A final decision hasn’t been made yet and the sale could also be delayed, they said.
Il Giornale, founded in 1974 by journalist Indro Montanelli, reported a loss of about €8 million ($8.4 million) last year. The daily is controlled by a company under Berlusconi’s younger brother Paolo.
Italy’s two most prominent newspapers, Corriere della Sera and la Repubblica, have also been sold in recent years as the media sector consolidates and consumers move their news consumption online.
Unions representing journalists at the newspaper have requested a meeting with management about a possible sale, the people said. That meeting could take place Monday, they said. A representative for Il Giornale declined to comment. A representative for Angelucci wasn’t immediately available for comment.
Angelucci already publishes several smaller newspapers including Il Tempo, Libero and Corriere dell’Umbria. Italian daily Italia Oggi reported late last month that the Berlusconi family had restarted talks with Angelucci on a sale of Il Giornale.
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