Forbes Magazine Explores Sale After SPAC Deal Collapses

From a New York Times story by Benjamin Mullin and Lauren Hirsch headlined “Forbes Explores Sale After SPAC Deal Collapses”:

Forbes, the chronicler of the wealthy and powerful, said it has tapped the investment bank Citigroup to explore a sale of its business after a previous deal to go public fell through.

In recent weeks, an offering document describing Forbes’s financials compiled by Citi has been circulated to companies in the media sector, including Yahoo. According to the document, Forbes generated more than $200 million in revenue and more than $40 million in profit in 2021.