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Forbes Media Considers Going Public, Has Two Offers to Purchase

Merger with SPAC is a possibility as continued growth in the brand is expected.

Eduardo Razo

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Forbes Media LLC is in talks over potentially going public through a merger with a
special purpose acquisition company (SPAC) as it’s also reviewing two offers to sell the
company, Reuters reports.

A prospective agreement with a SPAC allows for Forbes to go public on the U.S. stock
market, enabling the current owners to profit from any share price increase on their
remaining stakes.

However, should Forbes decide to accept any of the two bids for the company, it would
result in them remaining a private entity. According to the report, Borderless Services
Inc. is one of the bidders for Forbes, and they’re coming in with a $700 million bid.

Meanwhile, the other bid is from a consortium led by tech investor Michael Moe, but
their offer is undisclosed.

“We have no comment, but investors have consistently shown interest in Forbes, which
has produced three years of record results. 2021 is shaping up to be a strong year as
well,” a Forbes spokesperson said.

Seven years ago, Integrated Whale Media Investments purchased 95-percent of the
company, with the remaining stake remaining to the Forbes family. Now it seems as
though the Hong Kong-based investor group could be looking to sell its stake in the
company less than a decade since becoming the majority owner.

Forbes Media LLC is in talks over potentially going public through a merger with a
special purpose acquisition company (SPAC) as it’s also reviewing two offers to sell the
company, Reuters reports.

A prospective agreement with a SPAC allows for Forbes to go public on the U.S. stock
market, enabling the current owners to profit from any share price increase on their
remaining stakes.

However, should Forbes decide to accept any of the two bids for the company, it would
result in them remaining a private entity. According to the report, Borderless Services
Inc. is one of the bidders for Forbes, and they’re coming in with a $700 million bid.

Meanwhile, the other bid is from a consortium led by tech investor Michael Moe, but
their offer is undisclosed.

“We have no comment, but investors have consistently shown interest in Forbes, which
has produced three years of record results. 2021 is shaping up to be a strong year as
well,” a Forbes spokesperson said.

Seven years ago, Integrated Whale Media Investments purchased 95-percent of the
company, with the remaining stake remaining to the Forbes family. Now it seems as
though the Hong Kong-based investor group could be looking to sell its stake in the
company less than a decade since becoming the majority owner.

Forbes Media LLC is in talks over potentially going public through a merger with a
special purpose acquisition company (SPAC) as it’s also reviewing two offers to sell the
company, Reuters reports.

A prospective agreement with a SPAC allows for Forbes to go public on the U.S. stock
market, enabling the current owners to profit from any share price increase on their
remaining stakes.

However, should Forbes decide to accept any of the two bids for the company, it would
result in them remaining a private entity. According to the report, Borderless Services
Inc. is one of the bidders for Forbes, and they’re coming in with a $700 million bid.

Meanwhile, the other bid is from a consortium led by tech investor Michael Moe, but
their offer is undisclosed.

“We have no comment, but investors have consistently shown interest in Forbes, which
has produced three years of record results. 2021 is shaping up to be a strong year as
well,” a Forbes spokesperson said.

Seven years ago, Integrated Whale Media Investments purchased 95-percent of the
company, with the remaining stake remaining to the Forbes family. Now it seems as
though the Hong Kong-based investor group could be looking to sell its stake in the
company less than a decade since becoming the majority owner.

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Rachel Maddow Releasing New Podcast Series

Rachel Maddow Presents: Ultra is the all-but-forgotten true story of good, old-fashioned American extremism getting supercharged by proximity to power.”

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A new podcast is coming soon from MSNBC’s Rachel Maddow.

Deadline reports Rachel Maddow Presents: Ultra will premiere two episodes on October 10th, with new episodes being released every Monday. In a teaser of the podcast, Maddow explains the series is “an American story.”

MSNBC described the series as a podcast featured on “sitting members of Congress aiding and abetting a plot to overthrow the government. Insurrectionists criminally charged with plotting to end American democracy for good. Justice Department prosecutors under crushing political pressure. Rachel Maddow Presents: Ultra is the all-but-forgotten true story of good, old-fashioned American extremism getting supercharged by proximity to power. When extremist elected officials get caught plotting against America with the violent ultra right, this is the story of the lengths they will go to… to cover their tracks.”

Under a new contract with NBCUniversal that saw Maddow scale back her nightly MSNBC program to Mondays only, she’s developing new projects like podcasts and documentaries. Alex Wagner now hosts the 9:00 PM ET primetime hour on MSNBC Tuesday to Friday.

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Keith Olbermann: American Journalism ‘Re-Invented’ During Trump Presidency

“The overwriting principle used to be: get a scoop, get in the paper or on the air as soon as possible because that’s your job, and that’s your only actual value to society as well.”

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During his Countdown with Keith Olbermann podcast Friday, the former cable news host slammed a recent opinion from Politico’s John Harris that Americans need more journalists like Maggie Haberman, among others.

Olbermann has been critical of Haberman’s decision to withhold important facts in relation to the former President Donald Trump and save them for her upcoming book rather than report them in The New York Times.

“What Harris does not understand is American ‘journalism’ did re-invent itself,” Olbermann said. “The overwriting principle used to be: get a scoop, get in the paper or on the air as soon as possible because that’s your job, and that’s your only actual value to society as well. It is also — and I speak as somebody who broke a lot of sports news including the Wayne Gretzky trade and Michael Jordan’s first dalliance with a comeback — it is the joy of doing the journalism. You have the story, and nobody else does!”

He continued by saying Harris and Haberman believe the point of American journalism is not to inform the public but rather how much money you can make in the process.

Haberman’s book “Confidence Man: The Making of Donald Trump and the Breaking of America” is expected to hit bookshelves on Tuesday, October 4th.

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Andrew Cuomo Launches Action Committee, Podcast

Cuomo is joining his brother Chris in the news media world as the politician launches a political action committee and a podcast.

Eduardo Razo

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Former New York Gov. Andrew Cuomo is joining his brother Chris in the news media world as the politician is launching a political action committee and a podcast. 

“I am starting a political action committee to elect the right people to office,” Cuomo said (h/t CNN). “We do not need more panderers. We need producers. We need people committed to fight for change and who get results.”

The video also featured familiar criticism of social media, which he has often blamed for fueling the backlash the led to his resignation, which effectively halted state lawmakers’ plans to impeach and remove him from office.

“It’s a Twitter mob, but the mob has power and many politicians and press are afraid to challenge it lest the mob turn on them,” Cuomo added. 

Cuomo’s podcast intends to dive into what he believes is the truth and how the platform will differ from what is already out there. 

“This forum will be different. My intention is to speak the full truth, unvarnished, from the inside out, frank and candid,” Cuomo said. 

“As a person who’s been in the room many times for many years and knows these people and knows their games, and as a person who actually did the job.”

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