Russian giant Onexim in talks to acquire Forbes

Category: Media Industry Author : Duncan Riley Posted: November 23, 2008
Tags : forbes, onexim, russia
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Russian giant Onexim in talks to acquire Forbes

Reports in Russia are suggesting that Russian giant Onexim Group is in talks to acquire Forbes.

Yakov Sadchikov of Quintura who translated the reports notes that Onexim Group is one of Russia’s largest private investment funds with investments in the mining industry, energy, nanotechnology, real estate and other industries and has under $25 billion in funds under management. Onemix Group recently financed the launch of the Snob magazine in Russia.

Matt Marshall at VentureBeat notes that Forbes is in private hands, and any acquisition would be complicated.

Although some may find the idea of a Russian company acquiring one of the most famous names in American publishing surprising, it’s likely the first of many such acquisitions to come as the economic crisis worsens and heritage media assets flounder. Foreign acquisition may be the only path to keep companies like the New York Times publishing given the current state of the industry.

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ROY DOUGLAS 1 month ago 1 point
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IT IS GOOD TO SEE THAT FOREIGN FIRMS SUCH AS RUSSIANS CAN AQUIRE A PORTION OF ONE OF AMERICA COPERATE GIANTS. IT IS TIME THAT SOMEONE SHOULD GIVE THE AMERICANS SOMETHING TO THINK ABOUT. IF THIS MESSAGE REACHES ANYONE, I WOULD LIKE THE RUSSIAN FIRM ONEXIM TO BUILD A HIGHWAY IN AFRICA, FROM CAPE TOWN TO CAIRO OR CONNECT THE EXISTING ROADS SO THAT AFRICA CAN DEVELOP. IN MY COUNTRY WE HAVE UNLIMITED AMOUNT OF ASPHALT TO DO THE JOB, DO SOMETHING FOR AFRICA, IT WOULD BE OF INTREST TO WHO EVER COMMISSION A PROJECT LIKE THIS. IT WOULD BE A MASSIVE PROJECT MANY PEOPLE WOULD BE EMPLOYED AND WOULD BRING GREAT BENIFIT TO THE RUSSIANS.

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