Meredith Corporation agreed to sell the FORTUNE media brand for US$150 million cash to Fortune Media Group Holdings Limited, wholly owned by Chatchaval Jiaravanon, affiliated with the Charoen Pokphand Group. Jiaravanon serves as a Board Member of True Corporation, a leading public company in Asia with more than US$10 billion in assets, US$4 billion in revenues, and 23,000 employees.

Founded in 1930 at the outset of the Great Depression, FORTUNE has become synonymous with business success, evolved from a traditional print publication into an international multiplatform, multimedia business that includes a monthly magazine with multiple international editions; a digital news and video platform that reaches nearly 20 million people each month; and the world’s preeminent live event series for top executives, all overseen by a high quality editorial team.