Forbes Magazine Sells Stake to Equity Group
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Forbes magazine said it had sold a minority stake to a private equity group that included the singer Bono of U2.
The firm, called Elevation Partners, is buying a stake in a newly formed company called Forbes Media that will include the magazine, Forbes.com and other media properties.
The companies did not disclose the amount of the investment or the stake that Elevation Partners is acquiring.
Elevation Partners’ principals include Bono; former Apple Computer Inc. finance chief Fred Anderson; and Bret Pearlman, former senior managing director of Blackstone Group.
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