Forbes draws interest from international bidders
International companies such as Germany’s Axel Springer SE, China-based Fosun International Ltd. and Singapore-based Spice Global Pvt. Ltd., are bidding for Forbes Media, the parent of business magazine Forbes, reports William Launder of The Wall Street Journal.
Launder writes, “All three are expected to make ‘second round’ offers this month, the people say.
“Other potential bidders include Singapore-based Oxley Group and China’s G2 Whale Capital Group, two people familiar with the sales process said. At least one American entity is among the bidders, an investment group led by Jack Laschever, the president of Forbes’ conference business.
“Forbes owns Forbes magazine and the website Forbes.com, as well as a conference business and other operations. The makeup of the bidders highlights how Forbes’ owners—the Forbes family and private-equity firm Elevation Partners—are resting their auction hopes on the media company’s appeal to foreign investors interested in Forbes’ iconic brand name and the expansion of its digital operations in recent years.
“The Forbes name is already well-known outside of the U.S.: Forbes licenses its name to more than two dozen international editions, including Russian and Polish editions licensed to Axel Springer and a Chinese edition licensed to Fosun’s Media Group.”
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