REALCLEARPOLITICS.COM NOW OWNED BY CHINESE COMPANY

[Geee]

Breitbart:

Back in 2007 Forbes magazine purchased 51 percent of the then-wildly growing website RealClearPolitics.com. Now, in 2014, a Chinese company has purchased a majority position in Forbes itself.

A highly visited site, RealClearPolitics.com was created in Chicago in the year 2000 by John McIntyre and Tom Bevan and grew at an amazing rate, becoming one of the most trafficked political sites on the web. By 2007 Forbes Media took notice and purchased a 51 percent share in the site.

Upon the purchase, Forbes Media decided to let McIntyre and Bevan continue to run the site as they had always done before.

For the last year or so, Forbes itself has been up for sale, and after eight months on the block, this sale was anything but a sure bet as one company after another bowed out of the running. At last the media company found an investor in China.

This week Forbes Media confirmed that it has sold a controlling interest in the company to Hong Kong-based Integrated Asset Management, founded by Tak Cheung Yam. The price tag reportedly tops $300 million.

The Forbes family will hold a minority stake in the 97-year-old company that bears their name.