July 19, 2014

Forbes Media Is Sold To The Chinese

I but rarely visit the RealClearPolitics website and probably will do so even less after this.
From Breitbart:


A highly visited site, was created in Chicago in the year 2000 by John McIntyre and Tom Bevan and grew at an amazing rate, becoming one of the most trafficked political sites on the web. By 2007 Forbes Media took notice and purchased a 51 percent share in the site.

Upon the purchase, Forbes Media decided to let McIntyre and Bevan continue to run the site as they had always done before.

For the last year or so, Forbes itself has been up for sale, and after eight months on the block, this sale was anything but a sure bet as one company after another bowed out of the running. At last the media company found an investor in China.

This week Forbes Media confirmed that it has sold a controlling interest in the company to Hong Kong-based Integrated Asset Management, founded by Tak Cheung Yam. The price tag reportedly tops $300 million.

The Forbes family will hold a minority stake in the 97-year-old company that bears their name.
Reports are that the editors will remain the same. We'll see.


Gorges Smythe said...

Personally, I consider it traitorous for owners to sell their companies to foreigners. That's one reason we're in the mess we're in.

LL said...

Forbes is now an 'organ of the communist state'. It's part of Hope and Change! How glorious.

"Now I will tell you the answer to my question. It is this. The Party seeks power entirely for its own sake. We are not interested in the good of others; we are interested solely in power, pure power. What pure power means you will understand presently. We are different from the oligarchies of the past in that we know what we are doing. All the others, even those who resembled ourselves, were cowards and hypocrites. The German Nazis and the Russian Communists came very close to us in their methods, but they never had the courage to recognize their own motives. They pretended, perhaps they even believed, that they had seized power unwillingly and for a limited time, and that just around the corner there lay a paradise where human beings would be free and equal. We are not like that. We know what no one ever seizes power with the intention of relinquishing it. Power is not a means; it is an end. One does not establish a dictatorship in order to safeguard a revolution; one makes the revolution in order to establish the dictatorship. The object of persecution is persecution. The object of torture is torture. The object of power is power. Now you begin to understand me."

George Orwell, 1984

sig94 said...

Gorges - I agree. They're only interested in preserving their own rice bowl.

sig94 said...

LL - interesting quote - thank you.

"Power tends to corrupt and absolute power corrupts absolutely. Great men are almost always bad men."

England's Lord Acton, 1834 - 1902

Lord Acton considered the American federal system as an almost perfect protector of individual liberties. He was a Southern sympathizer and supported State's Rights during the Civil War for he believed that a centralized government was dangerous to freedom. How right he was.