Ronaldo takes over Portuguese media group. Global football sensation Cristiano Ronaldo has reportedly orchestrated the acquisition of Cofina Media, a leading Portuguese media conglomerate, through a consortium of investors.
Known for his stellar football career, Ronaldo has strategically expanded his investment portfolio, boasting ownership in various ventures, including restaurants, a hair transplant clinic, watches, and hotels, with a combined valuation surpassing £409 million.
The acquisition of Cofina Media was executed through Expressao Livre, a consortium in which the 38-year-old football icon holds a stake alongside other investors.
Notably, Cofina Media stands as the proprietor of several influential Portuguese national newspapers, including Correio da Manha, Record, and Jornal de Negocios.
This unexpected move raises eyebrows given Ronaldo’s history of clashes with certain entities under the Cofina Media umbrella. Notably, legal action was previously taken against Correio da Manha, citing breaches of privacy.
Furthermore, an incident preceding Euro 2016, where Ronaldo tossed a reporter’s microphone into a lake belonging to CMTV, a channel owned by Cofina Media, added to the tensions.
In a swift attempt to address past conflicts, Ronaldo has demonstrated a conciliatory approach by rewarding staff members with a bonus exceeding £1,000 and expressing appreciation for their dedicated work.
His aim is to establish a positive and collaborative relationship with the media group in the future.
As Ronaldo takes over Portuguese media group, this unexpected foray into media ownership not only underscores Ronaldo’s dynamic business expansion but also signifies his efforts to mend bridges within the industry, showcasing a commitment to growth and reconciliation.
