The Spanish media landscape is currently undergoing a significant shift, with Vocento, a prominent communications group, announcing the closure of its sports outlet, Relevo. According to J. C. P. (2025), this decision comes after Relevo accumulated losses of nearly 100 million euros. This closure not only impacts the media group's structure but also raises questions about the sustainability of digital sports media in the current economic climate.
The Closure of Relevo: A Deep Dive
Relevo, launched in 2022, aimed to capture a significant portion of the sports news audience. Ediciones EL PAÍS S.L. (2025) reports that the media outlet employed approximately 75 individuals, all of whom are now facing an uncertain future. Vocento has announced that negotiations with the affected employees will commence next week, marking the beginning of a complex and sensitive process.
Vocento's official statement indicates that the company explored various alternatives to keep Relevo afloat, including seeking potential buyers and new investors. However, these efforts proved unsuccessful, leading to the difficult decision to shut down the operation.
The Context: Vocento's Restructuring
The closure of Relevo is occurring amidst a broader restructuring within the Vocento group. Since Manuel Mirat took over as CEO in the fall of 2024, replacing Iñaki Arechabaleta, the company has been implementing various cost-cutting measures. According to J. C. P. (2025), Mirat's primary mandate from shareholders, including investors from the Ybarra and Luca de Tena families, is to turn around the company's financial performance.
«The market has not accompanied this project, which had costs that were difficult to assume», Vocento points out (Ediciones EL PAÍS S.L., 2025).
Financial Losses and Restructuring Costs
Vocento's financial results for 2024 reveal a loss of 97.2 million euros. This figure includes a 57.7 million euro adjustment for the impairment of goodwill, tax credits, and other assets. Furthermore, the company's efficiency and cost-cutting plan incurred expenses of 17.7 million euros. The closure of Relevo and other digital services added another 3.3 million euros to the costs.
The company attributes the financial downturn to a decline in advertising revenue and increased commercial costs, totaling 11.1 million euros, while a reduction in investment in agencies saved 2.4 million euros, according to Vocento's detailed report (Ediciones EL PAÍS S.L., 2025). The group's EBITDA (Earnings Before Interest, Taxes, Depreciation, and Amortization) shifted from a positive 34.5 million euros in 2023 to a negative 8.9 million euros in 2024.
- Revenue decreased by 5%.
- EBITDA fell by 72% (excluding severance payments).
Strategic Initiatives and Failed Negotiations
Before opting for the closure of Relevo, Vocento explored several strategic alternatives. The company engaged in negotiations with Mediaset, the Italian media group that owns Telecinco, to form a joint venture aimed at deconsolidating the loss-making sports outlet. The proposed deal involved integrating Relevo with El Desmarque, another sports publication. However, these negotiations ultimately fell through.
As rumors of a potential closure began to circulate, many journalists at Relevo attempted to join the Company Committee to protect themselves from potential layoffs. Supporters of the project emphasized the significant growth Relevo had achieved on social media platforms and the exclusive stories it had broken, including Nadal's withdrawal from Roland Garros, Vinicius's contract details, Asensio's departure, and the information that led to Luis Rubiales's resignation as president of the Spanish Football Federation, as well as Acciona's contract to build the F1 circuit in Madrid.
Despite these successes, Vocento concluded that the advertising market had not supported the project sufficiently, and the associated costs were too high to sustain (Ediciones EL PAÍS S.L., 2025).
Broader Implications for Vocento
The closure of Relevo is not an isolated incident within Vocento. Prior to this decision, Mirat had already implemented personnel adjustments in other publications, such as ABC and Colpisa, the news agency that serves the group's newspapers. The current climate of cost-cutting has prompted some highly regarded professionals to seek opportunities elsewhere.
In addition to the closure of Relevo, Vocento announced the sale of Pisos.com, a profitable real estate portal, to an Italian group for a gain of 22 million euros. The company is also working on further streamlining efforts with the assistance of the investment bank Alantra, including refinancing bank loans with major credit institutions, such as Banco Santander, BBVA, CaixaBank, Sabadell, and KutxaBank, with maturities due in 2026 (J. C. P., 2025).
The Future of Digital Sports Media
The closure of Relevo raises questions about the challenges facing digital sports media outlets. While the demand for sports news and content remains high, the ability to monetize this demand through advertising and subscriptions is becoming increasingly difficult. The case of Relevo highlights the importance of having a sustainable business model that can withstand fluctuations in the advertising market.
As Vocento navigates its restructuring process, the media group will need to focus on its core strengths and identify new opportunities for growth in the evolving media landscape. The closure of Relevo serves as a reminder of the need for media companies to adapt and innovate in order to survive in a highly competitive and rapidly changing industry.
