Global media giant, Forbes, has cancelled plans to go public. Learn more about the withdrawn IPO, and find out about similar companies you can invest in.
In May 2022, The New York Times released a report saying Forbes would no longer be going through with plans to go public, according to people familiar with the matter.
Originally, Forbes was believed to be planning to go public by merging with Magnum Opus Acquisition, a special purpose acquisitions company (SPAC) based in Hong Kong (you can read about the merger in this SEC filing). The newly-formed company was going to trade on the NYSE under the symbol “FRBS.”
The move was expected to take place at the end of 2021 or early 2022 and would have valued Forbes at $630 million. The deal was supposed include a $200 million investment from crypto exchange Binance.
Currently, Forbes is owned by Hong Kong-based Whale Media Investment Inc., which has a 95% stake in the company, and the Forbes family. There has been no word on whether Forbes will have an IPO in the future.
Even though you won’t be able to buy Forbes stock, you can still invest in other media companies.
| Company | Stock info |
|---|---|
| Fox Corporation | Nasdaq Global Select Market: FOX |
| Comcast Corporation | Nasdaq Global Select Market: CMCSA |
| News Corporation | Nasdaq Global Select Market: NWS |
| The New York Times Company | NYSE: NYT |
| BCE Inc. | NYSE: BCE |
You’ll need a brokerage account to buy and sell stocks. Here’s how it works:
These are the stocks to buy when you don’t have much to spend.
Read more…
Here are the 10 best gold stocks based on year-to-date returns for July 2024.
Read more…
Here’s what happens to your securities if your brokerage fails, and how your assets are protected by SIPC and FDIC.
Read more…Trade commission-free stocks and ETFs with Opto, and stay ahead by spotting emerging trends through thematic investing.
Check out our picks of the best paper trading platforms to practice trading and investing with fake money.
Spot Ethereum ETFs might soon be approved. Here’s how to invest if and when they become available to trade.
Check out our picks for the brokers with the best cash sweep rates on uninvested cash.
These are the best day trading platforms, according to Finder’s comprehensive analysis.
Explore the best bonuses for opening a new brokerage account.
We’ve rounded up stats on some of the most popular semiconductor stocks, along with information on how they compare and how to invest.
Check out our picks of the best brokerage accounts for beginners, micro-investing, crypto trading and more.
What you need to know about investing in the leading indicator for the overall US stock market.
Check out our 7 ideas for how to invest $10K to maximize your money.