The Forbes bidding consortium includes SUN Group, a family-owned Indian investment firm led by vice chairman Shiv Khemka, and GSV Ventures, a U.S. based investment firm.
that Forbes was in talks for an acquisition worth under $800 million, saying the deal was with investors from the U.S. and abroad.
A deal around $800 million would still be significantly higher than the $630 million enterprise value Forbes would have gotten by merging with blank check company Magnum Opus Acquisition Limited — the SPAC deal it failed to close earlier this year.last year that its full-year revenue for 2021 was $259 million, up 40% from the year prior. Adjusted EBITDA came in at $60 million, up from $33 million for fiscal year 2020.
One complicating factor about Forbes Media that has given investors pause in the past is the way Forbes' investments are structured, including its joint ventures in Forbes Advisors' parent company, Marketplace, and investing app Q.ai. Forbes as a company owns a 40% stake in Marketplace, which offers consumers insights and reviews on topics such as personal finance, health, and investing and. It bought aThe transaction value, a source said, accounts for the value of Forbes' equity position in Marketplace, but it does not buy the investment group control of it.And, whether Integrated Whale Media, which bought a 95% stake in Forbes from the Forbes family in 2014, retains any stake in the company as part of the deal.
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