By William Turvill
Forbes Media looks set to call off its deal to enter the public market. The New York Times reports that the business news company could confirm the cancellation of its plan this week.
Forbes announced last August that it intended to go public through a merger with Magnum Opus, a special-purpose acquisition company (SPAC). The deal was expected to value the media firm at around $630m.
Buzzfeed completed a similar deal last December and has struggled on the stock market this year.
Source: The New York Times
Deal size: $630m
Country: US
Status: Repo
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