Bulgari Family Buys 10.6 Percent Stake in Italy's Leone Film Group
The deal is worth $6.73 million and makes Maite Bulgari vice president of Leone Film Group.
Two leading Italian families are joining forces in a deal worth $6.73 million (6 million euros).
Maite Bulgari, wife of Paolo Bulgari, chairman of the luxury goods company, is buying a 10.6 percent stake from shareholders in Leone Film Group, which owns the movies of late Italian director Sergio Leone, for 4 euros per share.
The Leone Film Group, founded by Leone, is currently managed by Andrea and Raffaella Leone, the kin of the director.
Maite Bulgari will serve as shareholder and vice president of Leone Film Group. The new deal aims to expand the company’s focus on fiction TV with a new production hub in order to compete on the international market.
Italy has had several recent successes with such TV dramas as Gomorrah and The Young Pope, both of which have sold worldwide and received international acclaim. As more directors turn to TV, as Academy Award winner Paolo Sorrentino did with The Young Pope, a production of Sky, Canal Plus and HBO, the Leone Film Group is hoping to stay ahead of the curb.
Maite Bulgari founded Anthos, an independent production company, creating multiple scripted serials and documentaries for RAI. The new production hub plans to partner with Anthos to bring Leone Group’s TV game to a whole new level.
The Leone Film Group is a leading company within Italy founded in 1989. It has produced or distributed several recent blockbusters, including Paolo Genovese’s Perfect Strangers and Quentin Tarantino’s The Hateful Eight. The Leone stamp was all over the Venice Film Festival this year as local distributor of films, including La La Land, Hacksaw Ridge and The Light Between Oceans. Its international catalog of films includes almost 500 titles.
Andrea and Raffaella said: "We are very pleased and honored to announce the entry of Maite Bulgari as a shareholder and vice president of Leone Film Group. The partnership with Anthos also marks a significant new step forward for the group by implementing the development and production of television projects both nationally and internationally and by accelerating the common objective of consolidation and growth in such a vital area."