Forbes Media sold to Chinese group Integrated Whale

[Raphael]

BBC News - Forbes Media sold to Chinese group Integrated Whale

After 97 years of family ownership, Forbes Media has announced it has sold a majority stake in the company to a Hong Kong-based group of international investors.

Forbes Media - which includes Forbes magazine - was sold to Integrated Whale Media Investments for an undisclosed sum.

The Forbes family said it would still have a "significant" stake.

Steve Forbes will remain as chairman and editor-in-chief.

"While today marks a fundamental turning point in this 97-year-old company founded by my grandfather, it should be seen as an opportunity to continue and strengthen our mission," said Mr Forbes in a blog post announcing the sale.

Forbes - which says it reaches 75 million people worldwide every month through its print, digital, TV, conferences and research ventures - began looking for a buyer last November.

Forbes will continue to be headquartered in the US, but announced plans for an international expansion.


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Uh oh, will Gordon Chang be out of a job, living on the streets?

 

[Edison Chen]

 

[Chinese-Dragon]

Uh oh, will Gordon Chang be out of a job, living on the streets?

I thought Gordon Chang was our agent? He sells the same line as the Chinese Government: "Don't worry about China, we are not as strong as you think".

@Developereo, see this news. I heard the Saudis also own a huge chunk of News Corp, the parent corporation of Fox News etc.

 

[Aepsilons]

Excellent acquisition , China !

 

[Aepsilons]

I thought Gordon Chang was our agent? He sells the same line as the Chinese Government: "Don't worry about China, we are not as strong as you think".

@Developereo, see this news. I heard the Saudis also own a huge chunk of News Corp, the parent corporation of Fox News etc.

When i read this article, the first thing i saw was "Hong Kong". Wow! Impressive.

 

[Chinese-Dragon]

When i read this article, the first thing i saw was "Hong Kong". Wow! Impressive.

Often when we make sensitive purchases overseas, it is done through Hong Kong so it looks less politically sensitive on the news.

Or done through "front" companies that are registered overseas.

Because you know how the media can tend to go crazy over these kinds of things.

 

[terranMarine]

I thought Gordon Chang was our agent? He sells the same line as the Chinese Government: "Don't worry about China, we are not as strong as you think".

Don't expose his identity

 

[cirr]

BBC News - Forbes Media sold to Chinese group Integrated Whale

Uh oh, will Gordon Chang be out of a job, living on the streets?

No way。

All these years the guy has been an under cover agent for what you know。

If anything，the man deserves a medal。

 

[Developereo]

@Developereo, see this news. I heard the Saudis also own a huge chunk of News Corp, the parent corporation of Fox News etc.

Just owning a media house is not enough.

The Saudis (and Egyptians) are notoriously inept at leveraging their assets. News Corp. is one of the most rabidly anti-Muslim media organizations in the world. (Fox News is owned by News Corp.)

One of the first French media outlets to publish the Mohammed cartoons (some years back) is owned by an Egyptian owner. His entire editorial and news divisions threatened to quit if he didn't let them publish anti-Muslim cartoons.

Owning a company is no good unless you seed the editorial and management ranks with people who will promote your ideology.

 

[xunzi]

Gordon Chang in trouble. LOL

 

[terranMarine]

I predict the collapse of Gordon by 2015