These non-media assets don’t publish information, but they certainly play a major role in Sony’s financial success. All Rights Reserved. Sitemap

A controlling stake in the Forbes magazine group had been sold to a Hong Kong-based investment consortium. The company has since rebounded and said that 2013 was “the company’s most profitable year in the last six.”.

Your California Privacy Rights An approach by HNA or other Chinese buyers would mark at least the second time a mainland-based investor was interested in Forbes. The group is led by Integrated Asset Management (Asia) Limited founded by Tak Cheung Yam. 114,042, This story has been shared 102,749 times. Terms of Use “This is an investment move,” he said. Still, the betting from Day One was that the suitor would hail from Asia, where the “Capitalist Tool,” as Forbes is known, enjoys a higher profile than it does on the domestic front. Privacy Notice Do Not Sell My Personal Information, Your California Privacy Rights Also Read - Akshay Kumar Gets Fourth Spot on Forbes World's Highest Paid Actors 2019 List. Dog walks 62 miles for 2 weeks to get back home, Robert F. Smith’s yearlong, $59 million Chelsea penthouse build nears finish line, ‘DWTS’ pro Lindsay Arnold gives birth to baby girl, Cardi B and Offset hit multiple parties for Halloween in Atlanta, More Treats, Less Tricks On ‘SNL’ Halloween Episode, Thanks To Guest Host John Mulaney’s Steady Hand, © 2020 NYP Holdings, Inc. All Rights Reserved, Forbes Media may soon be on block again as investors explore sale, Forbes promotes its top magazine editor to content chief, Forbes Media is replacing its CEO amid management turmoil, Another Chinese company eyes stake in Forbes, Michaels takes 50 percent off Christmas trees for holiday sale, The best Wi-Fi extenders for boosting your internet connection range, Best Buy's 27 biggest early Black Friday deals of 2020, Thanksgiving meal kits and delivery services for an easy holiday feast, Master Microsoft Excel with this 90-hour training that’s on sale for just $70, Ed O'Neill got a huge pay raise and Porsche for resigning on 'Married ... with Children'.

That dispute had centered over Whale’s payments for the purchase, which was reportedly worth more than $400 million. Asian businessmen now control the Capitalist Tool. Forbes Media - which includes Forbes magazine - was sold to Integrated Whale Media Investments for an undisclosed sum. After 97 years of family ownership, Forbes Media has announced it has sold a majority stake in the company to a Hong Kong-based group of international investors. All Rights Reserved. Thanks for contacting us. The new ownership team is led by Hong Kong-based Integrated Asset Management, founded by Tak Cheung Yam. Post was not sent - check your email addresses! (Beijing) — The Hong Kong-based owner of Forbes Media is interested in selling a stake in the company but wants to maintain a controlling share of the U.S. publishing giant, a knowledgeable source told Caixin.

As media moguls continue to build their empires, and emerging conglomerates begin to expand into the news media industry, it is important to remain aware of who exactly owns the news. The Forbes family, including Chairman and Editor-in-chief Steve Forbes, will continue to hold a minority stake in the 97-year-old publishing company. Yes, you should plan on traveling to see family for Thanksgiving, New York is about to kill a whole lot of landlords, Democrats are masking Biden's frailty: Devine, Trump caravans snarl traffic on Garden State Parkway, Mario Cuomo Bridge, Salt Life co-founder charged after teen found shot at Florida hotel. Forbes in 1917. After the sale, the family’s stake will be reduced to around 20 percent. Forbes magazine was founded by his grandfather B.C. Copyright © 2019 Caixin Global Limited. “This is a major milestone for the company and our family and we’re pleased to partner with a forward looking investor group to further drive the evolution and growth of this exceptional company,” said Steve Forbes, who retain keep both his current titles. Non-Media Assets.

Reuters had reported earlier this week that HNA Group, one of China’s most acquisitive buyers of global assets, was in talks to buy a controlling stake of Forbes. For breaking news and live news updates, like us on Facebook or follow us on Twitter and Instagram. Forbes Media is selling a majority stake to a group of Asian investors known as Integrated Whale Media… Asian businessmen now control the Capitalist Tool. Copyright © 2020.

But potential suitors ranging from Germany’s Axel Springer to Time Inc. were unwilling to pay that price.

This story has been shared 117,696 times. - Forbes sold to Hong Kong-based Integrated Whale Media Investments for almost $500 million The latest developments follow the January resolution of a long-running dispute between Whale and the Forbes family following the latter’s sale of the Forbes Media stake to the former in 2014. “The reason it took as long as it did to do the deal was that we were looking for a particular kind of buyer who would understand the tradition of the Forbes brand and an investor would back the family’s and current management’s plan to grow the company.”, Another 'RT' reporter resigns over show's Russia coverage, This story has been shared 117,696 times.

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