Famous Portuguese football player Cristiano Ronaldo enters the world of media and embarks on a new business venture. It acquired Cofina Media through its Expressão Livre investment group, which manages well-known Portuguese media such as Correio da Manhã, Record and Jornal de Negócios.
The deal, worth €56.8 million, was officially announced by Cofina Group in a statement sent to the Portuguese Securities Market Commission (CMVM). In the above statement, it was reported that Cofina Group has terminated its relationship with its subsidiary Cofina Media after transferring ownership of the shares to a group of investors led by Cristiano Ronaldo.
Expressão Livre, a group of investors, stands out for its interest in the management of Cofina Media, which manages some of the most influential media outlets in Portugal. The deal was approved by the media consortium’s shareholders on October 26, thus marking Cristiano Ronaldo’s entry into the media world.