Forbes Media LLC has entered exclusive talks to be acquired by a group led by Michael Moe’s GSV Asset Management, in a deal that values the business-news publisher at more than $600 million, reports Gillian Tan of Bloomberg News.
Tan reports, “While a transaction isn’t finalized, it’s possible it may be agreed in coming months, said the people, who requested anonymity as the talks are private.
“‘We have no comment, but investors have consistently shown interest in Forbes, which has produced three years of record results,’ Forbes spokesman Matthew Hutchison said in a statement. ‘2021 is shaping up to be a strong year as well.’ A GSV Asset Management representative declined to comment.
“In 2014, Hong Kong-based Integrated Whale Media Investments acquired a controlling stake in Forbes in a deal that valued the company at $475 million. Forbes’s founding family retained a minority stake following that transaction, it said at the time.”
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