Forbes Deal Finalized
Forbes Media officially has a lot less Forbes involved in it. In late July, a deal was struck with Hong Kong-based Asset Management (the number being thrown around was $475 million) and now it is done.
Asset Management now owns a majority of the company, officially pushing the Forbes family aside for the first time since the publisher was founded in 1917. The Forbes family still owns a minority stake that some are placing at around 20 percent.
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