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Posts Tagged ‘Joe Mansueto’

Forbes Media Buyer Might Come from Far East

The bids for Forbes Media — which has been up for sale since last November — are all in, and word is that the frontrunners are both from the far East. According to Bloomberg News, China’s Fosun International, which publishes Forbes China, and Singapore’s Spice Global Investments, a diversified company, are both leading the pack.

Other potential buyers include Joe Mansueto, the billionaire founder and CEO of investment research firm Morningstar, and Germany’s Axel Springer, which publishes Forbes Russia.

Forbes wants $400 million for the company, and at least one media analyst believes that if an international buyer pays that much, it would be well worth it.

“Forbes used to just be a magazine, now it’s a worldwide business brand,” Ken Doctor, from Outsell Inc., told Bloomberg News. “How many people in their twenties and thirties are in emerging business markets — Asia, Africa, Latin America? That’s my sense of the great growth potential of the Forbes brand.”

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Billionaire Joe Mansueto Interested in Buying Forbes

Joe Mansueto, the billionaire founder and CEO of investment research firm Morningstar, is eyeing Forbes. The New York Post reports that Mansueto, is considering purchasing Forbes Media, which went up for sale in mid November.

Mansueto seems like a likely candidate to purchase the company. His Mansueto Ventures already owns Inc. and Fast Company, so he’s clearly interested in the media world. Plus, though Forbes wants about $400 million for the company, experts told the Post it won’t get nearly that much.

Mansueto’s net worth is $2.1 billion according to, well, you know who.

Getting The Skinny On The BusinessWeek Deal As Bid Deadline Looms

businessweek.jpg After tracking the upcoming BusinessWeek sale all summer, the magazine’s own media columnist Jon Fine has compiled all the known information about the transaction and put together this helpful guide.

So what do we know? The deadline for any interested parties to place a bid for the magazine is tomorrow. And Fine knows of at least seven potential bidders who have gotten debriefed by BusinessWeek execs and the management of the magazine’s owner, McGraw-Hill:

“They are New York Magazine owner Bruce Wasserstein; Fast Company and Inc. owner Joe Mansueto; and four private equity firms: Platinum Equity, Warburg Pincus, OpenGate Capital, and ZelnickMedia. The seventh player is Bloomberg LP, which despite having previously rebuffed McGraw-Hill in talks regarding a deal for BusinessWeek, apparently got very interested very quickly and is expected to meet with BusinessWeek management Monday, Sept. 14.”

Fine also said there are as many as three other unnamed parties who have shown interest, although he has been unable to dig up any info about them. (Know something? Send us an email.)

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