Factbox: Silvio Berlusconi death: who will take over former Italian PM’s business empire?

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12/06/2023 11:09

(Repeat of story published June 12)
       MILAN, June 12 (Reuters) - Four-time Italian prime
minister and billionaire media tycoon Silvio Berlusconi, who
died on Monday at the age of 86, never publicly indicated who
should lead his business empire after his death.
    The future of his business interests will likely depend on
how he has chosen to distribute his 61% stake in family holding
company Fininvest between his five children from two marriages.
His eldest daughter Marina is expected to play a prominent role.
     
    THE ELDEST HEIRS
    The eldest, Marina (born August 1966) and Pier Silvio (April
1969) have both been directly involved in running Berlusconi's
companies since soon after their father made his entry into
Italian politics in the early 1990s.
    Marina, who chairs Fininvest, has been overseeing publisher
Mondadori while Pier Silvio has been in charge of the TV
business which has long been the jewel in the family's crown.
     
    THREE YOUNGER CHILDREN
    Barbara (July 1984), Eleonora (May 1986) and Luigi
(September 1988), the children Berlusconi had with his second
wife, have not had any such high-profile executive roles in the
management of their father's businesses.
    Luigi assumed the task of representing his side of the
family at Fininvest, where he is a board member, on the back of
his focus on finance and wealth management.
     
    SILVIO AS "THE GLUE"
    People close to the family described Silvio Berlusconi as
"the glue" who kept his children united, despite their age range
and differing attitudes and ambitions.
    The big question is whether family unity can be maintained
after Berlusconi's departure and what impact that might have on
the future of the TV business on which Berlusconi built his
fortunes.
     
    SLIMMING DOWN
    In recent years Fininvest liquidated assets which it deemed
no longer strategic, from European soccer champions AC Milan to
stakes in biotech firm Molmed and Italian merchant bank
Mediobanca  MDBI.MI 
    The family holding company has confirmed its commitment to
its TV business MediaforEurope  MFEB.MI , supporting plans to
grow in Europe to resist the U.S. streaming giants through M&A
deals.
    But it remains to be seen if this ambition will be sustained
after the death of the founder.

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FACTBOX-Silvio Berlusconi's gaffes, quips and quotes   
 ID:nL6E7M933G 
Billionaire Berlusconi brought burlesque to Italian politics   
 ID:nL1N3840I6 
Former Italian PM Silvio Berlusconi has died - sources   
 ID:nL8N3841MR 
Silvio Berlusconi's many court battles, one sole conviction   
 ID:nL8N34V65N 
Fininvest Shareholders Structure    https://tmsnrt.rs/3KfSyx0
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(Reporting by Elvira Pollina
Editing by Keith Weir and Frank Jack Daniel)
((mailto:elvira.pollina@thomsonreuters.com;))