Owners of Forbes Media is reportedly seeking $400 million to $500 million in its sale. However, sources value the Forbes magazine and Forbes.com publisher at $200 million given its EBITDA of $20 million last year.
News/Media
Taiwan's The News Lens to reshape local journalism with angel funding and media veteran backing
The News Lens founder and chief executive Joey Chung said the new angel funding and the inclusion of media veterans Marcus Brauchli and Sasa Vucinic into the company fold will help the startup solidify its reputation as a trusted news source in Taiwan.
North Dakota media firm Forum Communications adds Brainerd Dispatch
North Dakota-based multimedia information company Forum Communications Co has agreed to purchase Minnesota-based media firm Brainerd Dispatch and other newspaper assets in the north-central Minnesota area.
High Times magazine works to establish $100M High Times Growth Fund for marijuana startups
Marijuana-focused magazine High Times said it is working towards creating the High Times Growth Fund that will allow investors to invest in legitimate marijuana startups, CNBC reported.
Chicago media firm Tribune agrees to buy Gracenote from Sony in $170M deal
Chicago-based media firm Tribune has entered an agreement to purchase Gracenote, the California-based music data unit of Japanese conglomerate Sony in a deal valued at $170 million, according to a statement by Tribune.
Latest News
New York, US-based media group News Corp has acquired Dublin, Ireland's social news agency Storyful in a deal valued at €18 million ($25 million) to help surface and validate user-generated news online.
Shanghai-based investment fund China Media Capital (CMC) purchased a stake in Beijing-based business media entity Caixin Media Company Ltd from Zhebao Media Holding Group Co Ltd for an undisclosed amount.
Qatar's Al Jazeera is mulling over a bid for a controlling stake Turkish pay-TV company Digiturk. Digiturk is an Istanbul-based satellite TV provider with an enterprise value of $1.5 billion.
Sources on Tuesday told the New York Times that William Morris Endeavor Entertainment has won the auction for sports and media talent agency IMG Worldwide. With a $2.3 billion offer, WME beat two other bidders backed by private equity firms.
US antitrust regulators gave the green light to Gannett Co. Inc.'s $1.5 billion purchase of Belo Corporation as long as the deal excludes St. Louis television station KMOV-TV.
The Weinstein Company and Miramax Films said in a joint statement that they have entered a multi-year deal to co-produce films, TV shows and live stage shows to be released in the United States and internationally.
New York-based startup Viggle announced its purchase of entertainment news website and social platform Wetpaint for $30 million in a bid to bulk up its social TV business.
Endemol, the TV production house who was made famous for its game shows like Deal Or No Deal and Fear Factor, was said to have made a $13 million strategic bet in UK-based social casino startup Plumbee.
PA Group, the parent company of UK's national news agency Press Association, is to sell its weather unit MeteoGroup to private equity group General Atlantic in a deal valued at £160 million (€190 million).
