Activities of publishers of daily newspapers and periodicals are reserved for EU nationals and EU-incorporated companies. Foreign, non-EU nationals and companies may be allowed only on the basis of reciprocity. Newspapers and periodicals published entirely in foreign languages as well as magazines with monthly periodicity or that publish less than twelve issues per year are exempted.
"ART. 1. (Ownership of companies)
The exercise of the publishing company of daily newspapers is reserved for natural persons, as well as for companies established in the form of the company in collective name, in simple partnership, with limited responsibility, for shares, in limited partnership for shares or cooperative, whose object comprises the editorial activity, exercised by means of any means and with any support, including electronic, the attivita 'tipografica, radiotelevisiva or comunque attinente to information and communication, as well as the activities connected functionally and directly to these latest.
For the purposes of this law, limited partnerships must in any case be constituted only by natural persons.
When the company is incorporated in the form of a joint stock, limited partnership or limited liability company, the shares with voting rights or quotas must be registered in the name of individuals, general partnerships, limited partnerships or a societa 'to prevalente public participation. The transfer by simple endorsement of these shares is excluded.[...]
The subjects referred to in the first paragraph are admitted to carry out the business activity described therein only if in possession of the citizenship of a Member State of the European Union or, in the case of a company, if based in one of the aforementioned States. Persons not having the aforementioned requirement are admitted to the exercise of the same company only on condition that the State of which they are citizens applies a treatment of effective reciprocity. The provisions deriving from international agreements are reserved.
[...]
ART. 18. (Extension of the legislation to certain types of periodicals and press agencies)
Publishers of periodical newspapers and magazines who have employed no less than five full-time journalists for at least one year are subject to the obligations established by articles 1, 2, 3, 7, 11, 47 and 48.
For newspapers published by publishers who have not employed a minimum of five full-time journalists for at least one year, the fulfillment, by the respective publishers, of the obligations established by article 11 is a condition for accessing the benefits provided for by the this law.
[...]
ART. 19. (Exclusions from the application of the legislation)
Newspapers and periodicals published entirely in foreign languages as well as magazines with monthly periodicity or which publish less than twelve issues per year are not subject to the obligations established by this law.[...]"; last amended by LAW of 17 July 2020, n. 77; Articles 1, 18 and 19 [google translation])
LAW of 5 August 1981, n. 416, "Discipline of publishing companies and provisions for publishing"; last amended by LAW of 17 July 2020, n. 77; Articles 1, 18 and 19 
[<a href="http://www.normattiva.it/uri-res/N2Ls?urn:nir:stato:legge:1981-08-05;416!vig=2021-08-20">Law</a>]