Stablecoin Issuer Tether Expands Investment Portfolio with €10 Million Stake in Italian Media Firm

Stablecoin issuer Tether continues to expand beyond financial technology with a fresh investment into Italy's media landscape.

Tether, the renowned stablecoin issuer, is expanding its portfolio with a €10 million strategic investment in Italy’s media landscape.

As reported by DealStreetAsia, the company is taking a 30.4% equity stake in media company Be Water by the end of March.

Media company adjusts shareholder structure with Tether’s investment

Tether’s investment in media company Be Water is part of a broader plan to diversify its portfolio beyond financial technology and crypto.

This marks Tether’s fourth investment in 2024 alone.

Earlier this year, Tether made headlines with a $775 million investment in video platform Rumble, aiming to expand its content reach.

Additionally, Tether is set to secure a stake in Juventus Football Club.

Furthermore, the company is investing $200 million in BlackRock Neurotech, a company developing brain-computer interface technology, to support its advanced tech initiatives.

Tether’s investment in Be Water will help the company preserve its editorial independence, according to Tether CEO Paolo Ardoino.

Ardoino noted that the company will continue to remain solid, visionary and especially independent.

He added: “While often Media companies are bullied into kneeling to sponsored narratives simply to survive, Tether’s investment in BeWater ensures that the group will continue to remain solid, visionary and especially independent.”

However, the investment has shifted Be Water’s ownership structure.

The updated shareholder list includes Guido Maria Brera and Giancarlo Devasini from the media company, along with Paolo Ardoino from Tether.

They are joined by a mix of industry professionals such as Mario Calabresi, Roberto Condulmari, Saverio Costanzo, and Barbara Salabè.

At the same time, Be Water’s board will also see changes, with Brera named Chairman and Salabè stepping in as CEO.

Other board members include Claudia Lagorio, Tether’s COO, and Sabrina Giovannetti, BeWater’s CFO.

Meanwhile, the media company is rolling out a major development plan.

This includes investing in next-gen digital infrastructure, expanding its investigative journalism arms, Chora and Will, and partnering with international film, TV, and documentary production talent.