Deals
Forbes Media in Talks to Go Public Via Magnum Opus SPAC
- Media company had been in talks with GSV-led consortium
- B.C. Forbes founded namesake business magazine in 1917
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Forbes Media LLC is discussing going public through a merger with Magnum Opus Acquisition Ltd., a blank-check firm, according to people with knowledge with the matter.
Forbes is set to be valued at more than $650 million in a deal with the Hong Kong-based special purpose acquisition company, the people said. A deal with Magnum Opus, if reached, would scuttle Forbes’s earlier talks with a consortium led by Michael Moe’s GSV Asset Management, one of the people said. That transaction, which would have seen the business-news publisher remain private, was slated to value it at more than $600 million, Bloomberg News reported in May.