GSV Investor Group in Talks to Acquire Forbes Media for $650 Million
Hong Kong-based Integrated Whale Media holds 95% of the business publisher
Alex Noble | May 6, 2021 @ 5:10 PM
Forbes Media LLC is in exclusive talks to be acquired by a group led by Michael Moe’s GSV Asset Management. The deal would be worth about $650 million, Reuters reports.
The acquisition is not yet final but GSV has just about a month to reach an agreement with Forbes before the exclusivity period expires.
“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.”
Investor group said in exclusive talks to acquire Forbes for $650m
Photo by Charisse Kenion on Unsplash
May 6, 2021
An investor group led by U.S. merchant bank GSV’s CEO Michael Moe has entered into exclusive negotiations to acquire business news and information publisher Forbes Media LLC for about $650 million, a person familiar with the matter said on Wednesday.
A deal could result in Forbes’ ownership changing hands seven years after Hong Kong-based investor group Integrated Whale Media Investments purchased 95% of the company. The remainder is owned by the Forbes family.
Moe’s consortium has about a month to clinch a deal with Forbes before the exclusivity period expires, the source said, cautioning that no deal is certain.
Investor group in exclusive talks to acquire Forbes for $650 mln - source bworldonline.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from bworldonline.com Daily Mail and Mail on Sunday newspapers.
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FILE PHOTO: The logo of Forbes magazine is seen on a board at the St. Petersburg International Economic Forum 2017 (SPIEF 2017) in St. Petersburg, Russia, June 1, 2017. REUTERS/Sergei Karpukhin
(Reuters) - An investor group led by U.S. merchant bank GSV’s CEO Michael Moe has entered into exclusive negotiations to acquire business news and information publisher Forbes Media LLC for about $650 million, a person familiar with the matter said on Wednesday.
A deal could result in Forbes’ ownership changing hands seven years after Hong Kong-based investor group Integrated Whale Media Investments purchased 95% of the company. The remainder is owned by the Forbes family.