Forbes Media to Sell Majority Stake to International Investors
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Photo by Mario Tama/Getty Images(NEW YORK) — Forbes Media on Friday announced plans to sell a majority stake in the media group to international investors with the goal of accelerating the company’s global growth.
The Forbes family will retain significant interest in the group, a release said, and Steve Forbes will remain chairman and editor-in-chief. However, the majority stake in the company will be acquired by Hong Kong-based investor group Integrated Whale Media Investments (IWM).
IWM is expected to provide financial and operation expertise as well as financial assistance in enlarging Forbes Media’s global reach.
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