Italian commercial broadcaster Mediaset has acquired the former Cecchi Gori Group’s film library for €17.5 million (US$21.7 million).
The library includes free-to-air and pay TV rights to over 500 feature films from Italian directors including Luigi Zampa, Luciano Salce, Ettore Scloa, Gianni Amelio, Marco Risi, paolo Virzì, Alessandro Benvenuti, Carlo Vanzina and others as well as Hollywood movies of the ’80s and ’90s not distributed by the majors.
Berlusconi-family controlled broadcaster and media group Mediaset acquired the library after it was put up for auction following the liquidation of Finmavi, the former company of media magnate Vittorio Cecchi Gori. He was arrested in June 2008 on charges relating to financial irregularities.
Mediaset said: “With this acquisition, Mediaset will make it possible for a substantial part of Italy’s most important film heritage to become once again available to a mass audience.”