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Thai Businessman To Buy Fortune Magazine For $150 Million
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 will own Fortune as a personal investment independent of the Charoen Pokphand conglomerate, according to a statement from Meredith.
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