Photo: Screenshot from a video of the forum on The Kremlin's English websiteThe consortium of investors looking to acquire Forbes has removed Sun Group as lead investor in the bid over concerns with the Indian investor group's ties to Russia, sources told Axios. Details: The move to have Sun Group dropped as lead investor was meant to minimize the role and influence that Sun Group vice chair Shiv Khemka would play in the agreement, one source noted. Sun Group will remain part of the bidding group, sources say. GSV, a Silicon Valley-based investment firm that has long tried to get its hands on Forbes, remains part of the consortium, but it will not be the lead investor either, sources say. Sources pitched on the opportunity to invest in the deal say the investor group is focused on new growth areas for Forbes, like a venture investing platform and an education services arm.

Source: Forbes April 11, 2023 15:02 UTC