In 1951, Caracciolo moved into publishing in Milan, and in 1955 set up the N.E.R. (
Nuove Edizioni Romane) publishing house with the progressive industrialist
Adriano Olivetti, manufacturer of
Olivetti typewriters. In October 1955, the company founded the news magazine ''
L'Espresso'' with editors
Arrigo Benedetti and
Eugenio Scalfari. Caracciolo was a man of the
liberal left. He disdained his aristocratic title but betrayed it in his elegance of dress and manner. He believed that a modern postwar Italian republic should be run on lay rather than religious principles, and his news outlets campaigned for reform of the laws governing
divorce and
abortion. This made the main shareholder Olivetti unpopular with the ministries and large companies that were the primary customers of his main business. In 1956, with the magazine losing money, Olivetti made Caracciolo a present of the majority shareholding. In June 1989, Caracciolo was awarded the Italian
Order of Merit for Labour. In 1991, he and his wife Violante Visconti purchased the
Torrecchia Vecchia estate, and subsequently developed its villa with architect
Gae Aulenti, around which they created a notable, English-style garden to designs by
Dan Pearson and others. In 2007, a year after he retired from the Espresso Group to become its honorary chairman, he bought a 33 percent share in the French newspaper
Libération. == Personal life and death ==