Forbes Media sold to Hong Kong group

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Forbes Media sold to Hong Kong group

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The Forbes family has agreed to give up control of its media empire and sell a majority stake to a Hong Kong based group.

A collection of investors led by Integrated Asset Management (Asia) Limited will now take over Forbes Media for a reported sum the equivalent of 351 million euros.

Steve Forbes will remain chairman and editor-in-chief, and the Forbes family will still own a minority stake in the business.

The company was put up for sale in November after years of falling profits.