September 26, 2018 / 9:20 AM / in a month

Italy's Mondadori sells magazine Panorama to daily La Verita

MILAN, Sept 26 (Reuters) - Italian publisher Mondadori is set to approve the sale of its magazine Panorama to national daily La Verita on Wednesday, two sources with knowledge of the deal told Reuters.

Mondadori, which is controlled by the family of former Prime Minister Silvio Berlusconi, is expected to give its green light at a board meeting scheduled later on Wednesday.

The publisher, which posted a first-half loss of 12.5 million euros, has embarked in the last years on an effort to rationalise its portfolio of periodicals at a time when sales for these publications are falling.

Mondadori and La Verita declined to comment. (Reporting by Giulia Segreti and Claudia Cristoferi; editing by Francesca Landini)

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