{"id":1498930,"date":"2022-05-31T20:14:57","date_gmt":"2022-06-01T00:14:57","guid":{"rendered":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/?p=1498930"},"modified":"2022-05-31T20:15:09","modified_gmt":"2022-06-01T00:15:09","slug":"china-moves-to-buy-iconic-american-magazine","status":"publish","type":"post","link":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/china-moves-to-buy-iconic-american-magazine\/","title":{"rendered":"China Moves To Buy Iconic American Magazine"},"content":{"rendered":"<aside class=\"mashsb-container mashsb-main mashsb-stretched\"><div class=\"mashsb-box\"><div class=\"mashsb-count mash-medium\" style=\"&quot;\"><div class=\"counts mashsbcount\">14<\/div><span class=\"mashsb-sharetext\">SHARES<\/span><\/div><div class=\"mashsb-buttons\"><a class=\"mashicon-facebook mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/www.facebook.com\/sharer.php?u=https%3A%2F%2Fwww.conservativenewsdaily.net%2Fbreaking-news%2Fchina-moves-to-buy-iconic-american-magazine%2F\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Facebook<\/span><\/a><a class=\"mashicon-twitter mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/twitter.com\/intent\/tweet?text=&amp;url=https:\/\/www.conservativenewsdaily.net\/breaking-news\/?p=1498930&amp;via=ConservNewsDly\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Twitter<\/span><\/a><a class=\"mashicon-subscribe mash-medium mash-nomargin mashsb-noshadow\" href=\"#\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Subscribe<\/span><\/a><div class=\"onoffswitch2 mash-medium mashsb-noshadow\" style=\"display:none\"><\/div><\/div>\n            <\/div>\n                <div style=\"clear:both\"><\/div><\/aside>\n            <!-- Share buttons by mashshare.net - Version: 4.0.47--><p>A firm backed by the Chinese government is poised to purchase Forbes Magazine for as much as $650 million.<\/p>\n<p>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 <a href=\"https:\/\/www.washingtonexaminer.com\/restoring-america\/patriotism-unity\/the-chinese-communist-party-tries-to-gobble-up-forbes-media\"> show<\/a> 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.<\/p>\n<p>\u201cForbes is a recognizable American brand with immense propaganda value to the CCP,\u201d Senators Tom Cotton (R-AR), Bill Cassidy (R-LA), Bill Haggerty (R-TN) and Ted Cruz (R-TX) <a href=\"https:\/\/www.hagerty.senate.gov\/wp-content\/uploads\/2022\/05\/forbes_letter.pdf\">wrote<\/a> in an open letter to Treasury Secretary Janet Yellen, calling for more oversight of the CCP\u2019s purchasing of U.S. assets. \u201cThe CCP\u2019s direction of Forbes\u2019 editorial content and business operations, or its access to Forbes\u2019 financial and personal research, could present a serious national security threat to the United States.\u201d<\/p>\n<p>Forbes was founded in 1917 by B.C. Forbes, and during the 1920s it operated as the <a href=\"https:\/\/theenterpriseworld.com\/forbes-a-history\/\">only business magazine<\/a> in the United States. The publication is famous for its annual list of the wealthiest Americans, the Forbes 400, and it was valued at $475 million in 2014, when 95% of the company was purchased by a Hong Kong based investment group, Integrated Whale Media Investments. The Forbes family presently holds the remaining 5%.<\/p>\n<p>\u201cChina\u2019s deliberately vague patchwork of intelligence, national security and cybersecurity laws compel companies to support and cooperate with the government\u2019s intelligence work,\u201d the senators argued when outlining their concerns, with Magnus itself noting in its SEC filings that Forbes \u201ccould be subject to oversight and discretion of PRC [People\u2019s Republic of China] government authorities, which could seek to intervene and influence its business operations at any time that the government deems it appropriate to further their regulatory, political and societal goals.\u201d<\/p>\n","protected":false},"excerpt":{"rendered":"<p>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 &#8230;<\/p>\n","protected":false},"author":856,"featured_media":1498959,"comment_status":"open","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"_mo_disable_npp":"","fifu_image_url":"","fifu_image_alt":"","footnotes":""},"categories":[],"tags":[],"class_list":["post-1498930","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry"],"_links":{"self":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/1498930","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/users\/856"}],"replies":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/comments?post=1498930"}],"version-history":[{"count":0,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/1498930\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media\/1498959"}],"wp:attachment":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media?parent=1498930"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/categories?post=1498930"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/tags?post=1498930"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}