27 Jan 2024

Merger between Chora Media and Will Media, a €9 million business

The new entity, called Be Content, will manage the media and entertainment activities of the two publications, which remain editorially independent with Calabresi as CEO and Haupt COO

27 Jan 2024

The new entity, called Be Content, will manage the media and entertainment activities of the two publications, which remain editorially independent with Calabresi as CEO and Haupt COO

Author

Emil Abirascid

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Chora Media and Will Media join forces to form one of the leading digital media and entertainment companies on the Italian market. The two brands – Chora and Will – will remain independent with independent editorial and content strategies, while the two corporate structures will be merged through a merger by incorporation of IS Media (Will) into Be Content (Chora). Almost two years after Chora’s acquisition of Will, the two companies thus bring to a conclusion the integration strategy launched in 2022. The new Chora&Will Media, legally Be Content Srl, will be able to rely on a team of almost 100 people who will continue to work to develop content and projects divided into different content areas: podcasts, videos, social media and events. BeContent will be led by Mario Calabresi, who is confirmed as CEO and appointed chairman of the board of directors, and Riccardo Haupt, former CEO of Will Media, who will now take on the role of managing director and chief operating officer. Mario Calabresi says in a note: “We have put together two stories of innovation and success, to build an even stronger and more competitive reality. Chora and Will will keep their identities distinct, but the editorial challenge is to continue to grow the quality of our products to meet a growing need for content.”

Riccardo Haupt, COO Be Content

Riccardo Haupt, in charge of the management of the new entity overseeing the areas of production, partnership and finance, adds: “We are very happy to have been able to complete a work that began almost two years ago with Mario (Calabresi) and Guido (Brera). The merger, while leaving Will’s editorial line intact and independent, will allow us to generate important synergies at the production and editorial level, guaranteeing us the possibility of developing new cross-brand projects, significantly increasing our commercial offer for companies looking for innovative editorial collaborations and to enhance even better the talents present in the two companies”.

Exponential growth

The merger between the two companies comes after a 2023 marked by strong growth in the turnover of Chora and Will, which is Almost nine million euros, a growth of more than 35% compared to 2022. The new reality will also give life to one of the largest and most appreciated podcast hubs in Italy: over 80 million streams per year and three of the most listened to podcasts in Spotify’s top 10 of 2023 (The Essential, Where Nobody Watches, and Stories). Chora&Will Media will work in synergy with BeWater Film, the film production company recently launched by the parent company BeWater. Barbara Salabè, former CEO of Warner Discovery Southern Europe, arrived at the helm of the holding company in 2023, while the film company was entrusted to Mattia Guerra, former managing director distribution and production of Lucky Red. Chora&Will Media will act as a reservoir of creativity and IP to be developed by the production company of the BeWater group, which will create projects for the small and big screen.