The majority ownership of Forbes Media has been sold to a group of investors based in Hong Kong. The Forbes family “will retain a significant ownership stake,” a release Friday says. Integrated Whale Media Investments “will provide capital, as well as financial and operational expertise, and intends to leverage its international relationships to strategically enlarge Forbes Media’s reach on a global scale.”
The company didn’t release terms. Edmund Lee, Alex Sherman and Leslie Picker reported for Bloomberg News last November that Forbes was exploring a sale. They wrote: “While Forbes is seeking at least $400 million in a sale, according to a person familiar with the matter, the company will struggle to land more than $200 million, another person said.”
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