Country Focus: Italy
DeAgostini sells Mikado to Franco Tatò
17/09/2009 - Publishing house DeAgostini has announced the sale of its production and distribution company Mikado to Franco Tatò, who has been active in the industry with Pixtar.
The group led by Marco Drago and Lorenzo Pellicioli had acquired 100% of Mikado just over two years ago from Roberto Cicutto and Luigi Musini (see news). Mikado has released over 400 titles, and recently picked up distribution rights to Michael Moore’s latest film, Capitalism: A Love Story, in competition at the recent Venice Film Festival.
According to several financial sources, the company owes nearly €30m in debt, €10m of which to DeAgostini. In 2008, Mikado took in approximately €12m, with nearly €4m in losses.