The hidden power play behind a strategic media takeover
The attempted acquisition of Italy’s major newspapers La Repubblica and La Stampa by Greek billionaire Theodore Kyriakou — a man deeply connected to Donald Trump, Qatar, and Saudi Arabia — is not just a business deal. It is a geostrategic operation cloaked in commercial rationale. A coordinated, cross-border move to silence dissenting editorial voices in one of Europe’s most politically charged media arenas. The involvement of the Gulf monarchies, a pro-Trump business elite, and even a congratulatory nod from Moscow reveals a rare convergence of interests: shrinking the space for critical journalism in the heart of the West.
Kyriakou, the fixer bridging Trumpworld, Doha and Riyadh
To understand what is at stake, one must dissect the profile of Theodore Kyriakou. Ostensibly a media mogul heading the Antenna Group — a sprawling audiovisual empire across 12 European countries — he is far more political than he appears. Dubbed by Greek media as the “ultra-conservative Berlusconi of the Balkans,” he has positioned himself as a transatlantic intermediary between the Trump camp and the Gulf’s petromonarchies.
In May 2025, Kyriakou was among a select few dining with Trump and Qatar’s emir in Doha. One month earlier, he had met privately with Mohammed bin Salman, whose Public Investment Fund (PIF) owns 30% of Kyriakou’s Antenna Group. Officially, this stake does not affect the branch set to acquire Gedi (parent company of La Repubblica and La Stampa). Unofficially, it opens the door to Gulf influence over European media — cloaked in financial neutrality.
Under siege: Italy’s last liberal editorial bastions
The symbolic targets of this acquisition matter. La Repubblica, founded in 1976 by Eugenio Scalfari, stands as a pillar of centre-left, pro-European criticism. La Stampa, rooted in Turin’s liberal industrial tradition since 1867, represents a moderate, rational voice. Both have consistently challenged Giorgia Meloni’s hard-right government and Donald Trump’s politics.
Kyriakou’s interest in these outlets is not random. It signals a desire to domesticate oppositional press under the guise of commercial expansion. The response from Italy’s political class has been telling: Foreign Minister Antonio Tajani simply declared that “the market decides,” hinting that Italian sovereignty now bows to private transactions.
When Moscow applauds, pay attention
The unexpected endorsement from Russia should not be brushed off. In a rare statement, the Russian Embassy in Rome publicly welcomed the sale, expressing hope that the papers would cease being platforms for “unbridled anti-Russian propaganda.”
This drew a fierce rebuttal from La Repubblica’s editorial staff, who condemned the statement as a grave interference. Yet the broader question remains: Why is Russia — supposedly excluded from this Gulf-Trump network — suddenly aligned in support?
The answer lies in shared incentives. A weakened, less adversarial European media benefits all autocracies, whether they wear Western suits or Eastern uniforms. This is not a formal Moscow-Doha-Trump axis — it is a convergence of anti-press, pro-power agendas.
Giorgia Meloni’s tactical silence
Italy’s Prime Minister has not formally commented. Behind the scenes, however, multiple sources (as reported by El Pais) suggest she has given quiet approval. Given La Repubblica’s relentless criticism of her administration, Meloni may see this as a chance to neutralize a media adversary without direct intervention.
Italy does have tools to prevent foreign takeovers in strategic sectors, notably the “golden power” mechanism. But apparently, the government does not consider journalism strategic. Or perhaps it does — and prefers strategic alignment with Kyriakou’s network over defending editorial independence.
The slow collapse of Italian media autonomy
If confirmed by January, this deal will mark the end of an era. It will symbolize not just the commodification of journalism, but the penetration of Italy’s public discourse by foreign interests with little respect for dissent or pluralism.
In Turin, La Stampa’s historic base, outrage is growing. Journalists are striking. Public figures, including the city’s archbishop, are voicing concern. But as always, capital moves faster than outrage. The newspapers are becoming weapons — not of truth, but of influence.
