Forbes Global Media, the publisher of Forbes magazine, said it’s doing an about-face on its plans to go public through a merger with a blank-check acquisition firm. Forbes’ SPAC plans have been on shaky ground, according to reports. Meanwhile, digital rivals Vice Media and Vox Media changed their SPAC plans amid a lackluster demand. Axios reported in December that despite the SPAC plans, a private investment firm was working on a private buyout bid for Forbes at a $620 million valuation. And, in Februrary, Forbes said it agreed to a $200 million investment from Binance, the world’s biggest cryptocurrency exchange.

Source: Forbes June 01, 2022 17:04 UTC