A firm backed by the Chinese government is poised to purchase Forbes Magazine for as much as $650 million. The proposed merger between Forbes Global Media Holdings (Forbes) and Magnus Opus Acquisition Limited (Magnus Opus) was first announced in August of last year, and is expected to finalize within the next month. SEC filings show that Magnus Opus received its seed capital from the state owned Chinese Investment Corporation. Other state-owned media operating in the United States, such as Xinhau News Agency and China Daily, are required to disclose their ties to the Chinese Communist Party (CCP), but the pre-existing Forbes brand could obfuscate the connection and smuggle CCP talking points into the American mainstream. Forbes, and during the 1920s it operated as the only business magazine in the United States.

Source: Forbes June 01, 2022 00:50 UTC