Costas Cleanthous purchases major stake in the Phileleftheros Media Group

Well-known Cypriot businessman Costas Cleanthous has purchased a majority stake in the six companies making up the Phileleftheros Media Group.

The Phileleftheros Media Group is one of Cyprus’ largest media organisations and has been active for seven decades, including, among others, flagship publication the daily Phileleftheros Greek-language newspaper as well as radio stations, magazines, and a printing house.

The co-founder of investment service XM, Costas Cleanthous, recently also acquired a majority stake in Ancoria Bank.

InBusinessNews has been informed that the transition of the Phileleftheros Media Group to its new ownership status will take place gradually.

Costas Cleanthos, through a statement to the organisation's media, provided the rationale for his decision to invest in the Phileleftheros Media Group, as well as what comes next.

"My decision to invest in the Phileleftheros Media Group and Cyprus’s great newspaper of the same name was forged with the purpose of continuing an independent voice that has learned to be heard without fear and to write without dependencies.

Phileleftheros will continue its responsible, impartial and reliable information service, in an industry under attack from all sides. The goal is to boost quality information, freedom of expression and a perspective that looks beyond the ephemeral," he said.

Nicos Chr. Pattichis and Myrto Markidou, the other stakeholders in the Phileleftheros Media Group commented, “We warmly welcome into our family a strategic investor with vision and undisputed capabilities—a new friend and valuable partner—giving together the promise that Phileleftheros will remain faithful to “serving the Cypriot people,” synonymous with the struggles and sacrifices of all in a journey toward reunification and a hopeful future.”

Costas Cleanthous’ entrepreneurial activity

Costas Cleanthous is the co-founder of the investment company XM, one of the leading international providers of trading services, which this year celebrates 15 years of successful and stable presence in its field of activity.

At the same time, the businessman is currently in the process of acquiring the majority stake in Ancoria Bank, in which he already owns a stake.

Last year, he also invested in the historic Forest Park Hotel in Platres.

It is noted that through the establishment of the Cleanthous Foundation in 2023, the businessman is working hard to contribute to the community, with a resounding example of the full coverage of the cost of building the new, model Peadiatric Oncology Clinic.

More about Costas Cleanthous

Costas Cleanthous was born in Limassol and in 2029 co-founded XM, an international giant in stock trading and investments, with offices in Cyprus, the USA, the UK, Greece, Australia, South Africa and the United Arab Emirates and over 10 million clients.

The company has consciously chosen to keep its headquarters in Cyprus, with offices in Nicosia and Limassol, supporting the Cypriot economy and society.

XM is one of the largest private sector employers in the country, creating hundreds of jobs and offering professional development opportunities to our compatriots, who constitute the majority of the human resources in Cyprus.

The company has been awarded 51 times since its inception, with the most recent awards being the Best Forex Broker in Europe, Australasia, Latin America and the Middle East by Forex World Finance, as well as the Broker with the Best Customer Service Worldwide.

In March 2024, it was recognised as the Best Workplace in Cyprus for the third consecutive year following an evaluation by the international organization Great Place to Work (category of businesses with more than 250 employees).

The company maintains numerous Corporate Social Responsibility programmes, with projects both in Cyprus and abroad.

Costas Cleanthous' vision to expand his contribution to Cypriot society resulted in the establishment of the Cleanthous Foundation in 2023.

(Source: InBusinessNews)