DeAgostini sells Italian distributor Mikado
Just two years after acquiring controlling stakeROME -- Italian publisher DeAgostini announced Wednesday that it would sell its film distribution unit Mikado to Franco Tato.
Tato earned his stripes working for DeAgostini rival Mondadori, which is part of the media empire owned by Italian Prime Minister Silvio Berlusconi.
Terms of the deal were not discussed, but it means that DeAgostini is backing away from the film sector less than two years after it entered it by acquiring a controlling stake in Mikado from founders Roberto Cicutto and Luigi Musini.
Mikado has distributed more than 400 films, and owns the Italian rights to Michael Moore's documentary "Capitalism: A Love Story," which is set to go into wide distribution in Italy later this year after its Sept. 6 world premiere at the Venice Film Festival.