Tom Cotton of Arkansas and Marco Rubio of Florida are teaming up to push the Biden administration to review the planned acquisition of Forbes magazine. "Forbes reportedly holds a significant market share among younger Americans, with tens of millions of monthly users," the lawmakers wrote. However, the company announced in 2022 that it would shutter the proposed merger, citing unfavorable market conditions, The Wall Street Journal reported at the time. "It is evident that the dangers of the proposed Forbes acquisition greatly exceed the acceptable level of risk established by Congress ... and by President [Joe] Biden," Cotton and Rubio's letter emphasized. "As such, we urge you to conduct a review of the proposed Forbes acquisition, without delay," it concluded.

Source: Forbes August 10, 2023 13:52 UTC