The Global Media Weekly for executives and entrepreneurs

Forbes to SPAC

Forbes Media, the eponymous owner of Forbes magazine, may IPO in the US market following a merger with special acquisition company (SPAC) Magnum Opus Acquisition. Earlier this year, Forbes was reported to be doing a deal with a different SPAC, GSV Asset Management, at a valuation of $650m.

Forbes was acquired by Integrated Whale Media who had bought a majority stake in 2014, valuing the business at $475m. The Forbes family retained a minority stake.

Forbes magazine was founded in 1917 and now has a reach of 140m across the globe with 32 licensed editions in 71 countries. Magnum Opus raised funds earlier this year and intends to target media, tech and consumer brands which may benefit from an increased profile in Asia.