ALTER EGO MEDIA Acquires Newsit and Tlife in €28.5 Million Deal, Expanding Its Digital Media Footprint
In a strategic move to strengthen its presence in the digital media sector, ALTER EGO MEDIA has finalized a major acquisition agreement, bringing the popular news and entertainment websites Newsit and Tlife under its umbrella. The publicly listed media group announced that the total value of the deal amounts to €28.5 million.
The acquisition is a key component of ALTER EGO MEDIA’s broader strategy to bolster its position in the digital media landscape through targeted investments that enhance both reach and content. This latest development is set to pave the way for further growth and digital transformation.
As part of the agreement, ALTER EGO MEDIA has acquired 100% of the shares in "NEWSIT E.P.E.," the company behind several high-traffic websites including www.newsit.gr, www.zappit.gr, www.iatropedia.gr, www.onalert.gr, and www.perpetual.gr. The shares were purchased from Cyprus-based firms "TREVANCO INVESTMENTS LIMITED" and "DORSETA INVESTMENTS LIMITED" for a total of €19.5 million, to be paid in two installments: €12.65 million by August 1, 2025, and €6.85 million by April 9, 2027. In 2024, NEWSIT E.P.E. reported revenues of €5.05 million and EBITDA of €2.56 million, with €1.92 million in net cash and no outstanding bank debt. The enterprise value (EV) of the company was estimated at €17.58 million.
Simultaneously, ALTER EGO MEDIA acquired the entirety of shares in "TLIFE A.E.," owner of the lifestyle website www.tlife.gr, for €9 million—also to be paid in two parts: €5.85 million by August 1, 2025, and €3.15 million by April 9, 2027. TLIFE A.E. posted 2024 revenues of €1.8 million and EBITDA of €0.94 million, alongside cash reserves of €0.43 million and zero bank debt. Its enterprise value was pegged at €8.5 million.
The initial payments for both acquisitions will be financed through proceeds from ALTER EGO MEDIA’s recent public offering on the Athens Stock Exchange, while the remaining amounts will be covered using internal funds. Independent valuations were conducted by Grant Thornton, with Deloitte Business Solutions serving as financial and tax advisor, and legal support provided by law firm KBVL.
Both transactions include provisions for Newsit founder Nikos Evangelatos and Tlife founder Tatiana Stefanidou to remain in executive roles at their respective platforms for at least five years. Additionally, the two will participate in an upcoming capital increase by investing €2 million in ALTER EGO MEDIA shares, at €5 per share—a 25% premium over the offering price and 15% above current market levels.
Taking into account the cash positions of the acquired companies, the total enterprise value of the acquisitions stands at €26 million. Their combined 2024 financial performance highlights strong profitability, with total revenues of €6.85 million, EBITDA of €3.5 million, and pre-tax profits of €3.4 million.
These strategic acquisitions reflect ALTER EGO MEDIA’s ongoing commitment to expand its reach in digital media, achieve economies of scale, and accelerate digital transformation. By incorporating Newsit and Tlife into its portfolio, the group solidifies its dominance in key audience segments, while enhancing both content quality and market impact.
In a joint statement, Evangelatos and Stefanidou commented: “After 15 years of independent growth, Newsit and Tlife are joining one of the country’s leading media groups, ALTER EGO MEDIA. Since 2010, we have developed innovative, continuously evolving, and highly profitable digital platforms. During a time when Greece was going through significant turmoil, we seized the opportunity to build something new and independent. Now, as the media landscape evolves with technological leaps such as AI, larger organizations are better equipped to meet these challenges—especially when combined with the agility of independent ventures. That is why we accepted ALTER EGO MEDIA’s proposal. In just eight years, they realized Evangelos Marinakis' vision and became a dominant force in Greek media, as proven by their successful IPO. By uniting forces, we are now creating the country’s largest online content provider, maintaining the unique identity of each platform while also innovating to improve user experience and deliver greater value to advertisers. A new era has begun.”
Giannis Vrentzos, CEO of ALTER EGO MEDIA, added: “We warmly welcome the teams of Newsit and Tlife to the ALTER EGO MEDIA family. The addition of these digital brands, created by Tatiana Stefanidou and Nikos Evangelatos, significantly enhances our media portfolio. The synergies and the expertise brought by these seasoned professionals align perfectly with our vision to evolve ALTER EGO MEDIA into a leading media tech group. This investment is expected to boost our financial performance in the coming years. With innovation and progress as our guiding principles, and a steadfast commitment to independence, freedom of expression, and quality content, we continue to implement our growth strategy to create long-term value for our shareholders.”
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