Asian investors in Forbes eyeing a sale

The Asian investors who bought a controlling stake in Forbes Media from the Forbes family in 2014 are  exploring a sale of the magazine and related Web properties, reports Keith Kelly of The New York Post.

Kelly reports, “Reached for comment, a spokesman for Forbes, also known as the ‘Capitalist Tool,’ didn’t shoot down rumors of a sale — and even went so far as to encourage investors to take a closer look.

“‘We have no comment, but smart investors often express interest in Forbes Media, especially now, coming off our best year ever in 2018 and with 2019 shaping up to be a strong year as well,’ said Matthew Hutchison, senior vice president of communications for Forbes.

“The Asian investors, led by Hong Kong-based Integrated Asset Management, bought their 95 percent stake in Forbes in 2014, in a deal that has been valued as high as $475 million, from the Forbes family and Elevation, an investment group that included Irish rocker Bono.

“Steve Forbes and other members of the Forbes family now have about a 5 percent stake in the company, while Elevation exited its full investment.”

Read more here.

Chris Roush

Chris Roush was the dean of the School of Communications at Quinnipiac University in Hamden, Connecticut. He was previously Walter E. Hussman Sr. Distinguished Professor in business journalism at UNC-Chapel Hill. He is a former business journalist for Bloomberg News, Businessweek, The Atlanta Journal-Constitution, The Tampa Tribune and the Sarasota Herald-Tribune. He is the author of the leading business reporting textbook "Show me the Money: Writing Business and Economics Stories for Mass Communication" and "Thinking Things Over," a biography of former Wall Street Journal editor Vermont Royster.

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