Meredith Sells Fortune Magazine To Chatchaval Jiaravanon For $150 Million

Chatchaval JiaravanonChatchaval Jiaravanon
(Last Updated On: November 9, 2018)

Chatchaval Jiaravanon is the latest to follow a line of billionaires who own media companies. Today, Meredith announced it sold Fortune Media Group, which contains Fortune Magazine, to the Thai businessman for $150 million.

“Our vision is to establish Fortune as the world’s leading business media brand, with an always-on reach and global relevance,” said Mr. Jiaravanon. “The demand for high quality business information is growing, and with further committed investment in technology and brilliant journalism, we believe the outlook for further profitable growth is excellent both for the publication and the events business.”

Mr. Jiaravanon is affiliated with the Charoen Pokphand Group (www.cpgroupglobal.com), an international conglomerate with businesses in telecom and media; agro-food; retail and distribution; e-commerce and digital; property development; automotive and industrials; finance and investment; and pharmaceutical sectors. Owned by the Chearavanont/Jiaravanon family, the C.P. Group operates public companies such as CP Foods, CP ALL and True Corporation, and multiple private firms.

Mr. Jiaravanon is involved in C.P. Group’s technology, media and telecom businesses. He serves as a Board Member of True Corporation, a leading public company in Asia with more than $10 billion in assets, $4 billion in revenues, and 23,000 employees.

Mr. Jiaravanon will own Fortune as a personal private investment independent of C.P. Group’s family businesses. He intends to increase investment in Fortune’s digital capabilities, geographic expansion, and editorial talent as part of a strategy to become the premium business content provider worldwide.

Chatchaval Jiaravanon Joins Marc Benioff and Sheldon Adelson As Billionaire Media Company Owners

Chatchaval Jiaravanon joins Marc Benioff, who owns TIME Magazine, and Sheldon Adelson, who owns The Las Vegas Review Journal and the Israel Hayom publication in Israel, as billionaire media company owners.

I am that rare breed: a blogger, and I don’t mean micro.  Follow me on Twitter: Roger Robarts

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Roger Robarts
I am that rare breed: a blogger, and I don't mean micro.  Follow me on Twitter: Roger Robarts