BREAKING NEWS

BREAKING NEWS

Forbes Media sold to Hong Kong group

Now Reading:

Forbes Media sold to Hong Kong group

Forbes Media sold to Hong Kong group
Text size Aa Aa

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.