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.
For now, Forbes staffers can breathe easy, as no changes are planned. Until October 8, at least. The New York Post reports that’s when Forbes CEO Mike Perlis will hold a meeting with everyone to discuss what — if any — alterations are coming. Perlis is now in Hong Kong meeting with Forbes’ new owners.
Elevation Partners, which previously held about 44 percent stake in Forbes Media, has been bought out.