Koch Inc.’s private equity arm is in ongoing talks on a bid to buy Forbes in partnership with another individual investor, reports Sara Fischer of Axios.
Fischer writes, “Koch Equity Development (KED) has a history of successful media investments, including its 2017 deal to back Meredith’s acquisition of Time Inc. with $650 million and its 2018 and 2019 investments in Getty Images worth $550 million.
“The big picture: Forbes’ current owner has been seeking a sale for years, but concerns about foreign ownership stymied two previous efforts.
“Between the lines: KED allocates roughly 10% of Koch Inc.’s profits towards acquisitions and long-term growth investments. The firm often targets companies that are poorly managed or undervalued.
“It will often partner with a strategic buyer on deals that aren’t part of Koch Inc.’s core competencies in manufacturing and technology.”
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