(Reuters) - Business magazine Forbes and online ticketing company SeatGeek said on Wednesday they would terminate deals with blank-check firms, as the SPAC boom fizzles out and such transactions draw greater regulatory scrutiny. Forbes' publisher had entered into a $630 million deal last year with former Point72 executive Jonathan Lin-led special purpose acquisition company (SPAC) Magnum Opus to help it build consumer-focused products and cut its reliance on media revenue. SeatGeek said it had terminated its $1.35 billion SPAC deal with RedBall Acquisition Corp due to "volatility in the public markets". "Expect more (terminated SPAC deals) to come ... (Reporting by Niket Nishant, Nivedita Balu and Anisha Sircar in Bengaluru; Editing by Shounak Dasgupta and Vinay Dwivedi)

Source: Forbes June 01, 2022 15:57 UTC