Fininvest

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Fininvest, S.p.A.
Type Società per azioni
Industry Financial holding
Founded 1978; 36 years ago (1978)
Founders Silvio Berlusconi
Headquarters Milan, Italy
Key people Marina Berlusconi (Chairman)
Pasquale Cannatelli (CEO)
Services Television, financial, football, editing, show, cinema
Revenue Decrease € 5,154.0 million (2012)[1]
Operating income Decrease (€ 490.5 million) (2012)[1]
Net income Decrease (€ 85.2 million) (2012)[1]
Total equity Decrease € 5,418.2 million (2012)[1]
Employees 17,918
Subsidiaries A.C. Milan, Mediaset, Mediolanum, Mondadori, Endemol
Website http://www.fininvest.it/it/holding/profilo

Fininvest is a financial holding company controlled by Silvio Berlusconi's family and managed by Silvio Berlusconi's eldest daughter Marina Berlusconi.

Structure[edit]

The Fininvest group is composed of a number important companies: Mediolanum (an insurance and banking company), Mondadori (one of Italy's leading publishing companies), A.C. Milan (a football team) and Mediaset, which is currently the biggest private entertainment competitor in Italy, owning three channels (Canale 5, Italia 1, Rete 4), two channels in Spain, Endemol, the film production company Medusa Film, a digital TV broadcasting network and many other companies related to TV broadcasting.

The Berlusconi family doesn't control the company directly. Instead, its shares are owned by 38 separate companies, all named 'Holding Italiana' followed by a number (1-38), most of which are in turn controlled by Berlusconi. These 'Holding Italiane' have repeatedly come under investigation by the police for various financial and accounting irregularities, slush funds and money-laundering. All of them were created at the end of the 1970s by covert associates of Berlusconi's and received significant investments (several hundreds of millions of euros at today's value) from still unknown sources. Some of their liquidity was even deposited in cash. Much of the documentation of that time relative to the early financial and banking operations of these companies has been lost, in one case in a fire.

A report on those matters was commissioned by the general Dipartimento Investigativo Anti-Mafia (Bureau of Anti-Mafia Investigation) of Palermo in the 1990s from a finance expert working at the Bank of Italy, Francesco Giuffrida, to supplement the evidence in a tentative case against Berlusconi and associates for their alleged involvement with the Sicilian Mafia. In 1998 the case was temporarily shelved because of lack of sufficient evidence to go to trial.

References[edit]

  1. ^ a b c d official site data in pro forma format (AC Milan SpA was specially consolidated with the net equity method)

External links[edit]