Categories: OLD Media Moves

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.”

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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