Magnum Opus Acquisition Limited - OPA STOCK NEWS

Forbes and Magnum Opus Acquisition Limited (NYSE: OPA) announced a $200 million strategic investment from Binance, leading to an overall $400 million PIPE. This investment supports Forbes' plans to go public through a business combination with Magnum Opus, expected to close in Q1 2022. The collaboration aims to enhance Forbes' digital asset strategy and utilize Binance's expertise in blockchain to grow subscriber engagement and revenue. Binance executives will join Forbes' Board of Directors post-transaction.

Forbes has launched Forbes Premium Profiles, a new offering for individuals and companies featured on its prestigious lists. This service allows list makers to personalize their digital presence on Forbes.com, which includes enhanced profile features such as custom biographies, headshots, and an ad-free viewing experience. Forbes Premium Profiles aims to facilitate connections among business leaders and provide a recurring revenue stream for Forbes. The initiative is part of Forbes' direct-to-consumer growth strategy and is currently available for select lists, including the 2021 Top Advisors and Next 1000 lists.

Forbes announced a major reorganization to enhance growth and prepare for a public listing by the end of Q1 2022. Key leadership changes include Jessica Sibley being promoted to Chief Operating Officer, overseeing a newly formed Revenue Operations team. Sherry Phillips becomes Chief Sales and Marketing Officer, and Taha Ahmed is now SVP of Corporate Development. Forbes continues hiring across multiple departments, signaling robust growth.

Forbes plans to go public via a merger with Magnum Opus (NYSE: OPA), expected to finalize in Q1 2022.

Forbes Global Media Holdings is pursuing a business combination with Magnum Opus Acquisition Limited (NYSE: OPA), aiming to capitalize on digital transformation in the consumer, technology, and media sectors. Forbes' CEO Mike Federle and CFO Michael York will present at the ICR Virtual Conference on January 11, 2022, and the Needham Virtual Growth Conference on January 13, 2022. The business combination is expected to close in Q1 2022, resulting in a new listing under the symbol 'FRBS' on the New York Stock Exchange.

Forbes is launching its inaugural Forbes 30/50 Summit in Abu Dhabi from March 6-9, 2022, bringing together women from its "30 Under 30" and "50 Over 50" lists. Chaired by Mika Brzezinski, this event aims to foster mentorship and collaboration among women leaders. During the summit, participants will share insights on International Women’s Day, aiming to enhance gender equality. Forbes also announced plans to go public via a merger with Magnum Opus (NYSE: OPA), expected to close in Q4 2022 or Q1 2023.

Forbes Global Media Holdings reported a 34% year-over-year revenue increase to $165 million for the nine months ended September 30, 2021. The Consumer business accelerated with an 83% revenue growth, contributing significantly to overall performance. Net income stood at $19.5 million, reversing last year's loss of $2.8 million. Adjusted EBITDA surged 133% to $33 million, reflecting operational strength. The company expects strong fourth-quarter performance and will provide updates during the Analyst Day in January 2022.

Forbes, alongside Mika Brzezinski's 'Know Your Value' initiative, has announced the global expansion of its 50 Over 50 list to include 50 Over 50 Asia and 50 Over 50 Europe. Nominations for these lists are now open, targeting women over 50 who positively impact their fields. This initiative aims to challenge age and gender stereotypes and promote diversity in business. Forbes plans to go public through a merger with Magnum Opus (NYSE: OPA), expected to finalize in Q4 of this year or Q1 of next year.

The 10th Annual Forbes Healthcare Summit, scheduled for December 2, will explore "Breakthrough Solutions for the Next Decade" in healthcare. Notable speakers include leaders from Anthem, IBM, and UnitedHealth Group, focusing on innovations that enhance medical treatment and delivery. The agenda aims to address value creation, accessibility, and technological advancements in healthcare, while celebrating the Top 10 Leaders of the Decade. Forbes aims to provide insights into transforming healthcare as it moves past the COVID-19 pandemic.

Forbes, in partnership with Media Business Generators, announced the launch of two new international editions: Forbes Chile and Forbes Peru. These Spanish-language editions will be available online starting November 2021. Randy Nieves-Ruiz will serve as Editor-in-Chief for Forbes Chile, while Hugo Flores will lead Forbes Peru. This expansion aims to enhance Forbes' presence in Latin America, joining existing editions in several countries. Furthermore, Forbes plans to go public through a merger with Magnum Opus (NYSE: OPA), anticipated to finalize in Q4 2021 or Q1 2022.