- XM co-founder Costas Cleanthous acquires Cyprus’ leading media group Phileleftheros, marking a significant move into the publishing industry.
Costas Cleanthous, co-founder and majority owner of CFDs broker XM, has expanded his personal business ventures with the acquisition of Phileleftheros, Cyprus’ largest and oldest Greek-language newspaper group.
While the deal’s financial terms remain undisclosed, the acquisition gives Cleanthous a controlling stake in a media house that publishes two newspapers, eight magazines—including Forbes Cyprus—and runs thirteen digital platforms.
This move follows his recent push into banking and hospitality sectors, signaling a broader diversification strategy. is exact plans for the publishing group have not been publicly shared yet.
