RCS MediaGroup shares, RCS share prices on the Stock Exchange

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ISIN code: IT0003039010
Sector: Consumer services
Industry: Publishing: newspapers

Le actions of RCS MediaGroup are listed on the Milan Stock Exchange with the ticker RCS.

Look at the history of the quotation of the share on the Milan Stock Exchange

Company Description

RCS MediaGroup (Rizzoli-Corriere della Sera Media Group SpA) is an Italian publishing group. It is one of the main Italian publishing groups, active both nationally and internationally (mainly in Spain). RCS is active in all publishing sectors: newspapers, magazines, television, the web and advertising sales.

Among the various brands owned by RCS MediaGroup we find:

Newspapers

• La Gazzetta dello Sport
• Corriere della Sera
• Corriere del Veneto
• Courier of Verona
• Corriere del Mezzogiorno
• El Mundo (Spain)
• Marca (Spain)
• Expansion (Spain)

Publishing Houses

• Solferino

Magazines

• Amica
• Where
• Me Woman
• Style Magazine
• Today
• Living
• Abitare
• Seven
• Sport Week
• Telva (Spain)
• Brand Motor (Spain)
• Actualidad Economica (Spain)
• Paul (Spain)
• Yo Dona (Spain)
• Golf digest
• Metropolis (Spain)
• Fuera de Serie (Spain)

TV and Radio channels

• TV courier
• Hunting and Fishing
• Radio Marca (Spain)

Digicast, which owned several TV channels including Lei, Dove TV and Gazzetta TV incorporated into RCS and shut down the TV channels. There RCS book sections, with all the trademarks owned, was sold to Mondadori Group in 2016.

RCS MediaGroup is listed on the Milan Stock Exchange in the FTSE Italia Small Cap index. The share capital of the company is equal to Euro 270.000.000,00. RCS is back under the control of a single reference shareholder after more than 30 years. Since 2016 the company has been controlled by Urbano Cairo. Cairo, in May 2016, launched a public offer to purchase and exchange shares, reaching 59,69% of RCS shares. On 3 August 2016 he was appointed chairman and CEO of the group.

The shareholders is composed as follows:

• Urbano Cairo, (through treasury shares and Cairo Communication Spa), 59,7%
• Mediobanca, 9,93%
• Diego Della Valle, 7,62%
• UnipolSai Group, 4,89%
• China National Chemical Corporation, (through Pirelli & C.), 4,73%

Le main holdings and subsidiaries of the group are:

• Unidad Editorial, 96,48%
• Veo Television SA, 100%
• RCS Sport – 100%
• RCS International Advertising BV – Amsterdam (Netherlands) – 51%
• m-dis Distribuzione Media SpA – 100%

Economic and financial analysis of the company

The origins of RCS date back to 1927 when Angelo Rizzoli opens the "TO. Rizzoli & C." and begins his own publishing business.

In 1929, Rizzoli was transformed into a joint stock company, taking on the name «Rizzoli & C. Anonymous for the art of printing».

In 1949 the Rizzoli Universal Library (Bur), which publishes at low cost.

In 1952 the company changed its name to “Rizzoli Editore SpA”. Bookshops are opened in Rome, Milan and New York.

After the war, Rizzoli began a new phase of expansion which led it to become one of the major publishing houses in Italy. Enter the newsreel market by founding the "Italian Company for Cinematographic Current Affairs" which from 1965 will take the name of Rizzoli Film SpA.

In 1956, the film production company was founded Ash.

In 1970 Angelo Rizzoli died; his son Andrea took over the publishing house.

In 1974 it acquired 100% of Editorial Corriere della Sera Sas., publishing company of the "Corriere della Serafirst Italian newspaper. The share package of Editoriale Corriere della Sera was divided between three individuals: the Crespi family, Angelo Moratti and the Agnelli family. The cost of the operation was around 40 billion lire. The name is changed to "Rizzoli-Corriere della Sera".

In 1976 he bought the TV network Telemalta and Il Mattino, the largest newspaper in the South.

In 1977, Rizzoli-Corriere della Sera buys NESSpA (Nuove Edizioni Sportive), owner of La Gazzetta dello Sport, and becomes the largest Italian publishing group. It also acquires equity control of two local newspapers, South Tyrol and Il Piccolo of Trieste.

When the payment of the share acquired by the Agnelli family to take over Il Corriere expired, which had risen from 13,5 to 22,475 due to the indexation of interest rates, Rizzoli was forced to seek financing. He got the help of Roberto Calvi (President of Ambrosian bank), through the mediation of the P2 Masonic lodge of Licio Gelli. The debt with Fiat was extinguished and Banco Ambrosiano proceeded with a capital increase. Roberto Calvi obtained a pledge from Rizzoli of 80% of the shares of RCS. Rizzoli could have collected these shares after three years, but at a value, increased, of 35 billion.

In 1978 he acquired the Genoese newspaper The Work. A new popular newspaper was launched, The Eye, which turned out to be a failure. This operation caused the group to lose billions of lire and the company was forced to undergo a new recapitalization, through theInstitute for Works of Religion (IOR).

The group found itself in significant deficit; Rizzoli failed to redeem Calvi's shares. Thus a plan was instituted by Calvi, said "the patton", to save the group. The plan envisaged a second capital increase to cover the entire deficit: Rizzoli would regain possession of the 50,2% of shares held in pledge by Calvi while the remaining 40% would pass definitively into the hands of Ambrosian bank at the price of 150 billion. Once it had the liquidity, Rizzoli Editore would have paid the 35 billion needed to redeem the old 80%, while the rest would have been used to subscribe for the capital increase. In April 1981 a company of the Ambrosiano, the «Centrale Finanziaria SpA» purchases 40% of Rizzoli shares.

In 1981 it the P2 scandal and the collapse of Banco Ambrosiano led to serious repercussions for RCS; L'Occhio and Corriere d'Informazione were closed down and Il Piccolo, Alto Adige and Il Lavoro sold. The liabilities of the Bank included the debt of 150 billion lire towards the publishing house and also towards Rizzoli himself (the previous capital increase never paid).

In 1982 Rizzoli owned 52% of the capital of RCS through treasury shares and joint stock companies (Italtrust and Finriz). keeping the majority of the company. Rizzoli decides to place the company in receivership to have time to settle the debts. The new president of the Bank, John Bazoli, he asked the group for the immediate repayment of the credit lines by making Rizzoli pass from the position of creditor to that of insolvent debtor.

Between 1982 and 1983 Angelo Rizzoli he is unable to resolve the debt situation that has arisen and is arrested on charges of corporate asset bankruptcy in receivership. Thus ended the era of the Rizzoli family in publishing.

RCS remained in receivership until 1984 managing to revive the fortunes of the group. Nuovo Banco Ambrosiano, owner of 40% through the "Centrale Finanziaria", offers the company to the Fiat. Fiat, under the direction of Mediobanca decides to carry out the operation through the finance company gemina who manages a consortium.

The new shareholders form a shareholder agreement (known as the «Rizzoli editore share block syndicate»). The pact stipulated that the decisions of the blocking union were taken with the favorable vote of four fifths of the members of the management.

In 1985 the new owners of Rizzoli decided to sell "Il Mattino". Gemina increases its stake in RCS from 46,28% to 62,5%, reaching an absolute majority.

In 1986 the group was restructured. The company name is changed to “RCS Editori SpA”. Five operating companies are established under the parent company: RCS Books, RCS Newspapers, RCS Periodicals, RCS Pubblicità and from the paper mill. The brands become part of the group Bompiani, Fabbri Editori, Sonzogno, Sansoni and Etas.

In 1990 RCS Editori entered the share capital with 96,1%. Unidad Editorial SA, Spanish publishing group.

In 1995 the merger with Fabbri Editori takes place, which turns out to be a bad business. The minority shareholders leave the share capital and the group passes under the complete control of Gemina.

In 1997 gemina decides to spin off the industrial holdings (including RCS Editori) conferring them into a new company, called «HdP» (Holding of Industrial Participations). HDP Spa holds 100% of RCS Editori shares. A new blockade and consultation syndicate pact is stipulated with more complex rules and regulations. This served to prevent the emergence of a ruler within the pact.

In October 2001, he bought the French publishing house Editions Flammarion, one of the largest publishing groups in the country.

In May 2002 the new brand was born Rizzoli Corriere della Sera MediaGroup SpA, abbreviated to “RCS MediaGroup SpA or RCS SpA. The group is listed on the Stock Exchange.

In 2004 Mediobanca acquires the share package of Gemina, rising to 11,61 and overtaking Fiat as the largest shareholder.

In April 2007 the acquisition of the Spanish group was completed Recollects, through the subsidiary Unedisa, for 1,1 billion euro. Enters the share capital with a minority stake (34,6%) in Finelco Group.

In 2008 Unicredi exited the agreement by transferring the shares held through Capitalia Participations. Buy, through Unidad Editorial, VEO Television of which he already held 55,4%.

Between 2008 and 2009 he bought 100% of Digicast, a company that develops and manages thematic television channels. In 2019 Digicast will be merged by incorporation from RCS Mediagroup.

In 2012 XNUMX Diego Della Valle leaves the pact after 10 years of permanence, however maintaining its shares. Sells to Groupe Madrid the Flammarion group for approximately 251 million euros.

In 2013, a new capital increase of 600 million euros was launched to meet debts. The debt weighing on RCS' balance sheet stemmed from the billion spent to acquire Recoletos. In October 2013, the members of the syndicate agreement decided not to renew it further.

In 2015 he started a reorganization of the activities not related to advertising. In September 2015, the 44,45% stake in the Finelco Group, owner of various radio stations, was sold. The following year, the sale of the entire shareholding of RCS Books ad Arnoldo Mondadori editor.

In 2016, Fiat decided to disengage from RCS and reset its shares. During the year the Cairo communication, a company headed by Urban Cairo, throw aPAHO of RCS shares, reaching 59,7%. On August 3, 2016, Cairo assumed the positions of president and chief executive officer of the group.

In November 2019 RCS resorted to arbitration in Milan to request the cancellation of the sale to the American fund Blackstone Group, which took place at the end of 2013 for 120 million euros, of the real estate complex which includes the Corriere della Sera building. According to Cairo, the sale price, which took place in a period of crisis for RCS, was too low compared to the real value.

In December 2020 Cairo Communication and RCS they sign an agreement for a corporate and commercial collaboration operation: it is born Cairo Rcs Media from the Rcs and Cairo Pubblicità advertising sales business branches.

The final award on the case arrives in May 2021 Blackstone agreeing with the American fund. The Arbitral Tribunal found Cairo wrong by confirming the correctness of the sale price.