Word: fininvest
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...1960s. A pioneer of private commercial television in Europe, he then sidestepped Italy's antimonopoly laws banning national private television by buying up scores of local stations. With assets spanning Italy's largest publishing company, an ad agency and the AC Milan football team, Berlusconi built up his Fininvest empire to become Italy's richest man. In 1993 he entered politics, declaring his newly launched party to be a "pole of liberty" - though for many, his sudden political awakening was a transparent effort to protect his own business interests...
...bully their opposition and the media. To their supporters, they're men of action, a welcome contrast to ineffective leaders of the past. Now, however, both have problems: Thaksin faces street protests demanding he resign over the $1.87 billion sale of his family's Shin Corp. media empire, while Fininvest media mogul Berlusconi, trailing in the polls before Italy's April 9-10 election, is accused of conspiring to give false testimony in a corruption case against him. They have other things in common...
...Fininvest, which controls Italy's three major private tv channels, also has holdings in publishing and film...
...former newspaper editor is Berlusconi's sounding board and strategist, helping the Milanese media mogul navigate Rome's innermost circles of influence. Their partnership dates back to the mid-1980s when Berlusconi hired Letta - already a Christian Democratic power broker - as the point man in Rome for his Fininvest holding corporation. During Berlusconi's eight-month stint as Prime Minister in 1994, Letta joined his political staff but not his Forza Italia. Today, Letta remains aloof from party politics. One senior Italian diplomat who has known Letta since the 1970s calls him "a perfect example of soft power." He brings...
...food conglomerate. So it's not surprising that he shows no signs of giving in, or of selling off his media outlets. Nor is he rushing to fulfill a campaign pledge to implement a system of independent controls on these holdings. In fact, Berlusconi seems bent on expansion. Fininvest, the Berlusconi family holding company, bought shares in several banks and raised its stake in the Spanish network, Telecinco, to 52% from 40%. In early February, the Prime Minister's oldest daughter, Marina - a vice president of Fininvest - was named boss at Mondadori, Italy's largest publishing house. Opposition leader Francesco...