Moneycontrol PRO
Sansaar
HomeNewsBusinessForbes enters into exclusive buyout talks with investor group

Forbes enters into exclusive buyout talks with investor group

Forbes had been seeking at least $800 million in a sale, The New York Times reported earlier on Wednesday

November 10, 2022 / 06:31 IST

Business news and information publisher Forbes said on Wednesday it has entered into "exclusive discussions" with an investor consortium for the sale of the company.

The move comes months after the publisher pulled out of a deal to go public through a special purpose acquisition company (SPAC). In August, it said it hired Citigroup to manage the sale.

The consortium comprises of family offices and global investors, a Forbes spokesman said in a statement, but did not disclose the value of the deal.

Forbes had been seeking at least $800 million in a sale, The New York Times reported earlier on Wednesday, citing two people familiar with the matter.

However, the final deal price would likely be less than that, the report added.

COVID-19 Vaccine

Frequently Asked Questions

View more
How does a vaccine work?

A vaccine works by mimicking a natural infection. A vaccine not only induces immune response to protect people from any future COVID-19 infection, but also helps quickly build herd immunity to put an end to the pandemic. Herd immunity occurs when a sufficient percentage of a population becomes immune to a disease, making the spread of disease from person to person unlikely. The good news is that SARS-CoV-2 virus has been fairly stable, which increases the viability of a vaccine.

How many types of vaccines are there?

There are broadly four types of vaccine — one, a vaccine based on the whole virus (this could be either inactivated, or an attenuated [weakened] virus vaccine); two, a non-replicating viral vector vaccine that uses a benign virus as vector that carries the antigen of SARS-CoV; three, nucleic-acid vaccines that have genetic material like DNA and RNA of antigens like spike protein given to a person, helping human cells decode genetic material and produce the vaccine; and four, protein subunit vaccine wherein the recombinant proteins of SARS-COV-2 along with an adjuvant (booster) is given as a vaccine.

What does it take to develop a vaccine of this kind?

Vaccine development is a long, complex process. Unlike drugs that are given to people with a diseased, vaccines are given to healthy people and also vulnerable sections such as children, pregnant women and the elderly. So rigorous tests are compulsory. History says that the fastest time it took to develop a vaccine is five years, but it usually takes double or sometimes triple that time.

View more
Show

Forbes, one of the oldest media outlets in the United States, publishes its eponymous flagship magazine which reaches five million readers. Founded by BC Forbes in 1917, it has long championed capitalism and entrepreneurship and is known for its annual list of the world's wealthiest people.

The company has been undergoing a digital transformation amid declining print revenue. It has been doubling down on expanding key franchises like Under 30 and live events, most of which have become virtual during the Covid-19 pandemic. It says its digital platform now reaches more than 140 million people with its 49 global editions.

Reuters
first published: Nov 10, 2022 06:31 am

Discover the latest Business News, Sensex, and Nifty updates. Obtain Personal Finance insights, tax queries, and expert opinions on Moneycontrol or download the Moneycontrol App to stay updated!

Subscribe to Tech Newsletters

  • On Saturdays

    Find the best of Al News in one place, specially curated for you every weekend.

  • Daily-Weekdays

    Stay on top of the latest tech trends and biggest startup news.

Advisory Alert: It has come to our attention that certain individuals are representing themselves as affiliates of Moneycontrol and soliciting funds on the false promise of assured returns on their investments. We wish to reiterate that Moneycontrol does not solicit funds from investors and neither does it promise any assured returns. In case you are approached by anyone making such claims, please write to us at grievanceofficer@nw18.com or call on 02268882347