Forbes sells majority stake to international investors

Forbes said Friday it reached an agreement to sell a majority stake in the company to Integrated Whale Media Investments,  a group of international investors, according to Fox Business.

"As more market-based economies emerge globally, interest in the information that Forbes provides and the message it delivers resonates with a growing audience," Tak Cheung Yam, chairman and founder of IAM, said in a statement Friday.  

Forbes noted it would remain a privately held operation, with the Forbes family continuing to hold a significant ownership stake.

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