WARNING
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WARNING 〰️
Jersey City, New Jersey-based Forbes Magazine, an iconic financial publication covering finance, technology, communications, science, politics, and law., appears to be close to acquisition by Magnum Opus Acquisition Limited, which is "controlled by the Chinese Communist Party,"
An April 8 proxy statement filed by Magnum Opus, the acquisition company, says that if the deal proceeds, Forbes "could be subject to oversight and discretion of [Chinese] governmental authorities, which could seek to intervene or influence its business operations at any time that the government deems appropriate to further their regulatory, political, and societal goals.”
This normally portends a replacement of top executives, senior staff, and trusted personnel with Chinese nationals or Chinese-Americans with loyalties to the Chinese Communist Party.
There is little or no doubt that the credibility of the publication will be affected by censorship and selective editing. Finances would not be a problem given the deep pockets of the CCP.
Forewarned is forearmed.