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Forbes Sale Said to Founder With Axel Springer Not Bidding

Forbes Media LLC’s effort to find a buyer is running into trouble, with one potential bidder officially out of the running and two others no longer in active talks, people with knowledge of the matter said.

Germany’s Axel Springer SE, which publishes the Russian edition of the magazine, isn’t involved in any process to acquire Forbes, Edda Fels, a spokeswoman, said yesterday. The company had been interested in bidding for the New York-based publisher, people with knowledge of the matter said in February.