A firm backed by the Chinese government is poised to purchase Forbes Magazine for as much as $650 million.
The proposed merger between Forbes Global Media Holdings (Forbes) and Magnus Opus Acquisition Limited (Magnus Opus) was first announced in August of last year, and is expected to finalize within the next month. SEC filings show that Magnus Opus received its seed capital from the state owned Chinese Investment Corporation. Other state-owned media operating in the United States, such as Xinhau News Agency and China Daily, are required to disclose their ties to the Chinese Communist Party (CCP), but the pre-existing Forbes brand could obfuscate the connection and smuggle CCP talking points into the American mainstream.
“Forbes is a recognizable American brand with immense propaganda value to the CCP,” Senators Tom Cotton (R-AR), Bill Cassidy (R-LA), Bill Haggerty (R-TN) and Ted Cruz (R-TX) wrote in an open letter to Treasury Secretary Janet Yellen, calling for more oversight of the CCP’s purchasing of U.S. assets.
Then the sixth angel poured out his bowl on the great river Euphrates, and its water was dried up, so that the way of the kings from the east might be prepared.” Rev. 16:12
“The CCP’s direction of Forbes’ editorial content and business operations, or its access to Forbes’ financial and personal research, could present a serious national security threat to the United States.”
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