Sale of Forbes to group led by tech investor collapses

An $800 million deal to sell Forbes Media Group to a group of investors led by American tech executive Austin Russell, the 28-year-old founder of Luminar, has collapsed after questions were raised about potential Russian or other foreign influence in the acquisition.

The current owner of the U.S. media group, Integrated Whale Media, said Tuesday it was terminating its agreement to sell Forbes to the Russell-led group, which “couldn’t deliver on closing,” according to Bill Hankes, a Forbes spokesperson who declined to comment further.