Fosun International Ltd. (00656.HK) may acquire Forbes Media LLC for less than US$250 million, a price lower than that expected by private equity firm Elevation Partners, a minority stakeholder of the business magazine publisher, Tencent’s qq.com reported Friday. The deal could be finalized soon, unnamed sources were quoted as saying. An earlier report by the Wall Street Journal suggested that the deal could be worth US$400-500 million. In 2010, Forbes sold its New York headquarters to New York University for US$65 million, much lower than the US$120 million reported by media, the report said.
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