Editing Forbes (section)

===Failed SPAC merger and sale===
On August 26, 2021, Forbes announced plans to go public via a merger with a [[special-purpose acquisition company]] called Magnum Opus Acquisition, and to trade on the New York Stock Exchange as FRBS.<ref>{{cite web |url=https://www.cnbc.com/2021/08/26/forbes-announces-plan-to-go-public-via-spac.html |title=Forbes announces plan to go public via SPAC|last=Burtsztynsky |first=Jessica |date=August 26, 2021 |work=[[CNBC]] |access-date=August 26, 2021}}</ref> In February 2022, it was announced that [[Cryptocurrency exchange]] [[Binance]] would acquire a $200 million stake in Forbes as a result of the SPAC flotation.<ref>{{Cite news|url=https://www.reuters.com/business/finance/binance-crypto-exchange-take-200-mln-stake-forbes-magazine-cnbc-2022-02-10/|title=Crypto exchange Binance to invest $200 mln in U.S. media firm Forbes|first=Tom|last=Wilson|newspaper=Reuters|date=February 10, 2022 }}</ref><ref>{{Cite news|url=https://www.wsj.com/articles/crypto-exchange-binance-to-invest-200-million-in-forbes-11644534040|title=Crypto Exchange Binance to Invest $200 Million in Forbes|first=Alexander|last=Osipovich|newspaper=Wall Street Journal|date=February 10, 2022 }}</ref> In June 2022, the company terminated its SPAC merger citing unfavorable market conditions.<ref>{{cite news |last=Ramkumar |first=Amrith |date=June 1, 2022 |title=SeatGeek and Forbes Nix SPAC Deals During Market Pullback |url=https://www.wsj.com/articles/seatgeek-and-forbes-nix-spac-deals-during-market-pullback-11654099960 |work=[[The Wall Street Journal]]}}</ref>

In August 2022, the company announced that it was exploring a sale of its business.<ref>{{cite news |last1=Mullin |first1=Benjamin |last2=Hirsch |first2=Lauren |date=August 2, 2022 |title=Forbes Explores Sale After SPAC Deal Collapses |url=https://www.nytimes.com/2022/08/02/business/media/forbes-sale-spac.html |work=[[The New York Times]]}}</ref> In May 2023, it was announced that billionaire [[Austin Russell (entrepreneur)|Austin Russell]], founder of [[Luminar Technologies]], agreed to acquire an 82{{nbsp}}percent stake in a deal valuing the company at $800{{nbsp}}million.<ref name=":0" /> His majority ownership was to include the remaining portion of the company owned by the Forbes family which was not previously sold to Integrated Whale Media.<ref name=russell-sale>{{Cite news |date=May 12, 2023 |title=Forbes to be acquired by Luminar Technologies' Austin Russell |work=[[Axios (website)|Axios]] |url=https://www.axios.com/2023/05/12/forbes-acquired-luminar-technologies-austin-russell |access-date=December 22, 2023}}</ref><ref>{{cite news |last=Bruell |first=Alexandra |date=May 12, 2023 |title=Automotive Tech Billionaire Austin Russell to Acquire Majority Stake in Forbes |url=https://www.wsj.com/articles/automotive-tech-billionaire-austin-russell-to-acquire-majority-stake-in-forbes-83dbb3be |work=[[The Wall Street Journal]]}}</ref> The transaction attracted scrutiny by the [[Committee on Foreign Investment in the United States]]. Russell denied reports that Russian businessman [[Magomed Musaev (businessman)|Magomed Musaev]] was involved in the transaction.<ref name=":0">{{Cite news |date=October 20, 2023 |title=Russian tycoon claims he is behind Forbes purchase, audiotapes show |newspaper=[[The Washington Post]] |url=https://www.washingtonpost.com/business/2023/10/20/forbes-sale-musaev-russia/ |access-date=October 22, 2023}}</ref> In November 2023, the deal collapsed, as Russell was unable to put together the necessary funds.<ref name=russell-fail>{{cite web |last=Fischer |first=Sara |date=November 21, 2023 |title=Forbes deal dead as Austin Russell fails to raise cash by deadline |url=https://www.axios.com/2023/11/21/forbes-deal-dead-austin-russell |website=[[Axios (website)|Axios]]}}</ref>