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Fininvest

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Fininvest, S.p.A.
Company typeSocietà per azioni
IndustryInvestment company
Founded1978; 46 years ago (1978)
FounderSilvio Berlusconi
Headquarters
Milan
,
Italy
Key people
Marina Berlusconi (Chairman)
Pasquale Cannatelli (CEO)
ServicesTelevision
Financial services
Football
Publishing
Show
Cinema
RevenueDecrease €4.687 billion (2014)[1]
Increase€1.377 million (2014)[2]
Decrease €428.4 million (2014)[3]
Total equityDecrease €4.759 billion (2013)[4]
Number of employees
Decrease 17,066 (2013)[5]
Subsidiaries
Websitewww.fininvest.it

Fininvest is an Italian holding company controlled by the Berlusconi family and managed by Silvio Berlusconi's eldest daughter Marina Berlusconi.

Structure

The Fininvest group is composed of a number of important companies: Banca Mediolanum (an insurance and banking company), Mondadori (one of Italy's leading publishing companies), A.C. Milan (a football team)[7] and Mediaset, which is currently the biggest private entertainment competitor in Italy, owning three channels in Italy (Canale 5, Italia 1, Rete 4), two in Spain, the film production company Medusa Film, a digital TV broadcasting network, and many other companies related to TV broadcasting.

Controversies

The Berlusconi family does not 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.

Footnotes

References

  1. ^ http://www.fininvest.it/en/financial_information/annual_report
  2. ^ http://www.fininvest.it/en/financial_information/annual_report
  3. ^ http://www.fininvest.it/en/financial_information/annual_report
  4. ^ http://www.fininvest.it/en/financial_information/annual_report
  5. ^ Cite error: The named reference officialdata was invoked but never defined (see the help page).
  6. ^ http://www.fininvest.it/en/group/company_structure
  7. ^ "Berlusconi will keep control of AC Milan, Fininvest says". Reuters. 2015-05-03. Retrieved 2016-02-15.
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