(Alliance News) - Caltagirone Editore Spa announced Tuesday that Piemme, the group's advertising concessionaire, and Mondadori Media, a Mondadori Group company, have defined a partnership aimed at promoting Tv Sorrisi e Canzoni, Chi, Guida TV and Telepiù.

The collaboration involves exclusively entrusting Piemme with the sale in Italy of advertising space for the four television and entertainment brands, in the magazine, digital, social and app channels as well as the management of sponsorships related to events.

"The agreement with Mondadori Media fits naturally into the path of evolution and integration undertaken by Piemme and allows to further consolidate the quality and strength of our Media Platform, capable of reaching 12 million gross contacts per day in the country. Piemme is proud to be able to share its expertise to support some of Italy's most iconic weeklies," says Walter Bonanno, CEO of Piemme.

"This collaboration is part of a broader path of diversification of our commercial activities, consistent with the strategy of repositioning our product portfolio. We believe that Piemme is an ideal partner capable of further enhancing some of our most successful brands, thanks to a strong network of investors and an approach that is deeply rooted in the territory," commented Carlo Mandelli, managing director of Mondadori Media.

Caltagirone Editore stock is flat at EUR1.00 per share while Mondadori rises 1.9 percent to EUR1.97 per share.

By Chiara Bruschi, Alliance News reporter

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