U2′s Bono Bails Out Of Forbes In Sale To Hong Kong-Based Investor Group

(Photo: Axelle/Bauer-Griffin) By DAVID LIEBERMAN U2′s Bono Bails Out Of Forbes In Sale To Hong Kong-Based Investor GroupThe publication will continue to produce its famous scorecards of the rich and powerful, but without the backing of U2′s Bono. A new entity, called Integrated Whale Media Investments, just bought a majority stake in Forbes Media — including the preferred shares owned by Elevation Partners, the PRIVATE EQUITY firm the singer co-founded. The new ownership group pledges to “provide capital, as well as financial and operational expertise, and intends to leverage its international relationships to strategically enlarge Forbes Media’s reach on a …read more

Source: http://www.u2france.com/actu/U2-s-Bono-Bails-Out-Of-Forbes-In,57868.html