Forbes Media owner could be selling majority stake
Acquisitive Chinese conglomerate HNA Group is in talks to buy a controlling stake in the owner of the publisher of Forbes magazine, reports Julie Zhu of Reuters.
Zhu reports, “Hong Kong-based investor group Integrated Whale Media Investments (IWM), which holds 95 percent of Forbes Media, is also in talks with another Chinese media firm and is scouting for more potential buyers for most or all of its stake, said one of the sources, who declined to be identified as the talks are confidential.
“Reuters was not able to confirm the names of the other possible bidders.
“HNA, ranked 353rd in the 2016 Fortune Global list of the world’s biggest 500 companies, has been in discussions for a couple of weeks with IWM for a deal worth at least $400 million, said the source.”
Read more here.