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Thai businessman Chatchaval Jiaravanon agreed Friday to buy Fortune magazine for $150 million in the latest deal for titles from the former Time Inc. family.
Meredith Corp, the publishing group which acquired Time Inc. magazines last year, announced the deal to sell Fortune to the businessman who is affiliated with Thailand's largest company, a conglomerate operating in telecom, media, food, retail, pharmaceuticals and other sectors.
Jiaravanon - Fortune - Investment - Charoen - Pokphand
Jiaravanon will own Fortune as a personal investment independent of the Charoen Pokphand conglomerate, according to a statement from Meredith.
"Our vision is to establish Fortune as the world's leading business media brand, with an always-on reach and global relevance," said Jiaravanon in the statement.
Demand - Quality - Business - Information - Investment
"The demand for high quality business information is growing, and with further committed investment in technology and brilliant journalism, we...
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