Fair compensation for media editors: what happened to the value gap? An in-depth article by Daniela De Pasquale

On Agenda Digitale, an in-depth article by Daniela De Pasquale focuses on Directive 790/19 on copyright and related rights in the digital single market, and the so-called ‘value gap,’ which refers to the disparity between the perceived value by creators of journalistic content and the value obtained by intermediaries who distribute such content online.

As evidenced by the recent clash between Meta and SIAE, the relationship between content providers and online platforms remains challenging. Back in 2019, Directive 790 was met with great controversy, having to establish a delicate balance between the needs to protect freedom of information, expression, and creativity and those of content provider businesses; similarly, protests followed the implementation decree of the Directive in 2021, which definitively established a principle of liability for platforms that, after being informed, used copyrighted content without authorization due to their users’ public communication of protected works, risking potential content censorship as a result of abuse of remedies available to rights holders.

In this article, we delve into the procedures for calculating fair compensation for media editors proposed by platforms.

For further reading, the full article is available here.

Ughi e Nunziante with Chaos in the acquisition of AXYZ Design

Ughi e Nunziante Studio Legale, with a team composed of partner Amon Airoldi and senior associate Pietro Pastorello, advised Chaos in the acquisition of the Italian company AXYZ design, a leading developer of 3D/4D animation software designed to add realistic people and crowds to architectural visualizations.

Chaos, a portfolio company of TA Associates, a global private equity firm, and LEA Partners, a technology focused private equity firm, develops 3D visualization technology for architecture, engineering, construction, media and entertainment, product design and manufacturing, creating intuitive and powerful workflows for participants across the entire design spectrum. Chaos is now the largest global 3D visualization company with more than 700 employees worldwide.

The sellers have been supported by legal advisor Eloy Gomez Paulada and the accounting and tax advisor Studio Dorighelli, with Emiliano Dorighelli.

 
 

Italy’s “Golden Power”: new protectionism of legitimate protection? The article by Filippo Mazza for Global Competition Review

On Global Competition Review, an article by Filippo Mazza about the use of “golden power” by the Italian government in the current historical period.
Italy seems to be experiencing an unprecedented wave of national protectionism to curtail foreign investments by means of the Golden Power Legislation, which came into force in 2012 and allows the government to limit or stop investments involving strategic assets in defence and critical infrastructure sectors.
Despite being operational for more than a decade, the legislation has significantly expanded its scope in recent times, following the Covid-19 pandemic and the Russian invasion of Ukraine.
While Italy is steadily recovering from the covid-19 pandemic and is currently the leading EU country in terms of GDP growth, foreign investors are expressing concerns over unprecedented government control. The Italian government is using in fact this legislation to more effectively protect Italian strategic assets from potentially hostile actors during a period of significant geopolitical challenges.
The full in-depth analysis of the procedures and areas of application of the golden power, as well as key interventions by the Italian government, is available to subscribers here.

“Energy, more clarity needed for the transition” – Tiziana Fiorella interviewed by Italia Oggi

Starting from the second half of 2020, due to the pandemic, climate change and the energy crisis caused by the Ukrainian war, the energy sector, especially renewable energy, has acquired a leading position in the Italian legislative landscape.

An important input can certainly be ascribed to the opportunities provided by the Italian National Recovery and Resilience Plan (PNRR), which, in dedicating a significant chapter to Energy, mandated the implementation of several reforms aimed at harmonizing and simplifying the authorization procedures for the construction of energy production plants.

Our Tiziana Fiorella, interviewed by ItaliaOggi on the topic of Energy, PNRR, and the green transition, commented: “[…] Despite the declared intention of simplification, the rapid succession of numerous decrees (Simplifications, Aid, Energy, Bills, PNRR), through which the regulatory framework for renewable energy has been modified and supplemented, has resulted in fragmented legislative interventions that are not always consistent, often difficult to understand, and challenging to apply for operators. The current regulatory framework, far from achieving actual simplification, appears to have become considerably more complex due to the lack of an organic and coordinated body of regulations. We hope that in the near future, the legislator will intervene once again, standardizing the applicable laws in the Energy sector in order to facilitate operators in entrepreneurial initiatives that require clear, unambiguous, and certain rules they can rely on.”

The full focus is available here

Ughi e Nunziante with Zeus Packaging Group in the acquisition of Cima Paper

Ughi e Nunziante – Studio Legale assisted Zeus Packaging Group, a leading global packaging solutions company based in Ireland, in the acquisition of a 70% stake in Cima Paper S.p.A., a company specializing in the paper and cardboard sector.

With the acquisition, Zeus will strengthen its production capacity, optimize existing Italian operations and expand Cima’s reach throughout Europe.

Ughi e Nunziante, with a team led by partner Giuseppe Coco, along with associates Riccardo Maraga for labour profiles and Giuseppe Nasello for corporate profiles, assisted Zeus in all aspects related to due diligence, SPA negotiation, and post-closing relationships with the sellers.

The sellers were assisted by lawyers Matteo Frigerio and Francesco Arlati.

Ughi e Nunziante with PM & Partners in the acquisition of the majority stake of Italtergi

Ughi e Nunziante assisted PM & Partners Sgr, management company of the PM & Partners III fund, in acquiring the majority shareholding of Italtergi, a European leading company in the design and production of complete wiping systems, primarily for off-highway vehicles and other special applications.
Ughi e Nunziante’s team was composed of Partner Amon Airoldi and Associate Deniz Kivage for corporate law profiles as well as Partner Gianluigi Pugliese and Associate Anna Vanni for financing aspects.

Read more about the transaction and all the advisors involved.