Italian holding company Compagnie Industriali Riunite SpA is reorganising, but will not sell its media conglomerate Gruppo Editoriale L'Espresso, Rodolfo De Benedetti, chief executive of CIR SpA, has announced, Thomson financial reported Thursday.

CIR will not sell its controlling stake in L'Espresso, but will spin off other non-media activities.

Sorgenia, Sogefi SpA, Holding Sanita e Servizi and all other non-media will be spun off into a new company, which will be listed on the Milan stock exchange, Thomson Financial stated in a report posted by FinanzNachrichten.

The spin-off was not a way to sell L'Espresso, De Benedetti said in a conference call, according to Thomson Financial.