China-based Fosun International is now said to be in final negotiations to land Forbes Media and its related digital properties, reports Keith Kelly of the New York Post.
Kelly writes, “One source said the deal could be announced as early as this week — or early next week.
“Fosun is a diversified, closely-held conglomerate that last year purchased 1 Chase Manhattan Plaza for $725 million and already publishes the Chinese edition of the magazine.
“A report last week, in The Deal, had Fosun as the winner already. It quoted sources saying the price tag will be in the $250 million range — far below the $400 million that Deutsche Bank, which is handling the sale, said in November it hoped to fetch.
“As Media Ink first reported, Steve Forbes may be staying on board with a minority stake.
“Speculation is that Forbes will keep up to 20 percent.”
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