New daily takes on Italy's Berlusconi

September 19, 2009 03:57:06 PM

• A⁺ 
• A^-
• |
• 
• |
• 
• |
• 

A new daily called 'Il Fatto' (The Fact) is to be launched in Italy next Wednesday, aiming to counter pressure from Prime Minister Silvio Berlusconi against press criticism, its backers said.

"Il Fatto will be both a daily newspaper and a civil reaction from a group of journalists who believe in press freedom," editor Antonio Padellaro said at a news conference in the Foreign Press Association building in Rome on Friday.

The newspaper, which will come out six days a week and will cost 1.20 euros (1.77 dollars), is being financed "without any state funding," he said.

Seventy percent of its capital will come from private business and 30 percent from the journalists, who will hold a blocking minority in the venture.

The new daily already has 27,000 subscribers, executives said.

Berlusconi, a wealthy media magnate, has been embroiled in a slew of scandals involving alleged corruption and sexual escapades over the past few months, triggering negative media coverage both in Italy and abroad.

He has threatened legal action against several top European newspapers.