Italian Publishing House Sale Sparks Controversy Amid Legal Battles
Rome, Italy – The sale of Visibilia Editore, a prominent Italian publishing house known for its celebrity gossip magazines like Visto and Novella 2000, has ignited controversy amid ongoing legal battles involving its former president and CEO, Daniela Santanchè, now Italy’s Minister of Tourism.Santanchè and her company, Immobiliare Dani, sold a 75% stake in Athena Pubblicità, the parent company of Visibilia Editore, to Wip Finance, a Swiss financial consulting firm. The sale comes as Santanchè faces multiple legal investigations, including allegations of bankruptcy fraud and embezzlement related to Visibilia Editore’s financial dealings.
Troubled finances and Mounting Legal Scrutiny
In late 2022, shortly after Santanchè’s appointment as Tourism Minister, Milan prosecutors initiated a liquidation proceeding against Visibilia Editore, alleging financial irregularities and potential bankruptcy. The investigation stemmed from complaints by minority shareholders who alleged mismanagement and false accounting practices.
Prosecutors allege that Santanchè and other executives misrepresented the company’s financial health between 2016 …