Scoop: A group of investors led by India-based SUN Group is trying to lure tech billionaires and Hollywood types to join their bid for Forbes, which values the firm at $800 million.
A group of investors led by India-based Sun Group is trying to lure tech billionaires and Hollywood types to join its bid for Forbes, which values the firm at $800 million, sources told Axios.The group is projecting that with investments in new growth areas, like a venture investing platform and an education services arm, parts of Forbes' business could be worth billions of dollars in five years.
Sun Group vice chair Shiv Khemka, who is leading the effort, is targeting high-profile individuals, like tech billionaires, who might be interested in owning a piece of a media brand.In the deck described to Axios by sources pitched on the opportunity, the investor group argues that Forbes — which it values at roughly $800 million today — could one day be worth billions across three new business lines.
The group predicts that by 2028, it will deliver revenue growth at a 17% compound annual growth rate and earnings growth by 25% CAGR.chaotic SPAC IPO plans fell apart last year. Forbes Media has said that it's in exclusive talks with the investor group led by Sun Group. Forbes' majority owner, a Hong Kong-based investment firm called Integrated Whale Media, has been trying to cash out on its investment in Forbes for years.It's still unclear whether Khemka and Sun Group can raise enough money for the deal from those looking to get their hands on a piece of a media brand for vanity purposes, based on projections that seem aspirational.
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