- The Washington Times - Thursday, February 27, 2014

Fosun International Limited, a Chinese conglomerate headquartered in Shanghai, is poised to announce the $250 million purchase of Forbes media, including the company’s signature magazine, a source told the New York Post.

The deal is supposed to be announced in the next few days, the Post reported.

Fosun already publishes the Chinese edition of the magazine.

Forbes editor-in-chief Steve Forbes is likely to stay on board and maintain a minority stake of up to 20 percent, according to the Post.