Forbes Sells Majority Interest

Forbes Media sold a majority stake in the media firm, which was valued in total at $475 million, reviving what had been thought to be diminishing prospects for the firm’s sale.

Forbes seeking capital investments

Forbes was seeking near a $400 million valuation in November 2013, according to a New York Times Dealbook article. After two potential bidders, Axel Springer of Germany and Spice Global Investments of Singapore, backed out, hopes to sell the company waned this spring until Integrated Whale Media investors stepped forward.

The Forbes family, who is said to have received everything they wanted out of the deal, will retain a “significant” ownership stake, a statement...