Meredith Corporation agreed to sell the FORTUNE media brand for $150 million cash to Fortune Media Group Holdings Limited, wholly owned by Chatchaval Jiaravanon. The transaction is subject to regulatory approval and is expected to close in 2018. "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." said Mr. Jiaravanon.