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.