Austin Russell’s Forbes Holdings to Acquire Forbes Global Holdings from Integrated Whale Media Investments

Austin Russell’s Forbes Holdings (controlled by Russell with 82% interest) announced that financing for its approximately $800 million acquisition of Forbes Global Holdings from Hong Kong-based Integrated Whale Media Investments (IWM) is now substantially oversubscribed, with over $2 billion in demand. The parties plan a transition of ownership and control of Forbes from Hong Kong back to the United States, with final investor allocations to be decided ahead of a scheduled close later in 2023.