July 18, 2014
Cadwalader is pleased to have advised Forbes Media LLC on its sale of a majority stake to a group of international investors as part of the Company's global growth strategy. The Forbes Family will retain a significant ownership stake and will remain a privately-held company. The newly formed Hong Kong-based investor group, Integrated Whale Media Investments, will provide capital, as well as financial and operational expertise to strategically expand market share of Forbes Media product lines globally. The terms of the transaction were not disclosed.
The Cadwalader team was led by Chris Cox (corporate), William Mills (corporate), Gregory Patti Jr. (corporate), David Miller (tax), Richard Nugent (tax), Dorothy Auth (intellectual property), Dale Turza (foreign investment) and Alec Burnside (antitrust).
Forbes Media, publisher of Forbes, Forbes Asia and ForbesLife magazines and Forbes.com, is an authoritative source of news and information on business, investing, technology, entrepreneurship, leadership and affluent lifestyles. The company has built a diversified portfolio of assets as part of its ongoing transformation into a global media, branding and technology company. The Forbes brand today reaches approximately 75 million people worldwide with its business message through Forbes and ForbesLife magazines and its 36 licensed local editions around the world, Forbes.com, TV, conferences, research, social and mobile each month. The Forbes magazine iPad app merges the power of print storytelling with social sharing and the web. Forbes Media’s brand extensions include conferences, real estate, education, financial services, and technology license agreements. The company plans to launch ForbesLife.com in September 2014.