Forbes Global Media Holdings and Magnum Opus Acquisition Limited, a publicly traded special purpose acquisition company, have entered into a definitive business combination agreement.
The transaction is expected to close in late fourth quarter 2021 or early first quarter 2022 and will “enable Forbes to further capitalize on its successful digital transformation, using technology and data-driven insights to create more deeply engaged audiences, and associated high-quality and recurring revenue streams,” says an Aug. 26 Forbes press release.
Forbes’ existing management team will continue to manage the combined company upon completion of the deal under the leadership of Chief Executive Officer Mike Federle.
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