The word: Chinese company buying Forbes

Forbes magazine may soon be sold, and for a lot less than the Forbes family had been hoping to get.

Chinese company Fosun International is in final negotiations to purchase the business magazine, according to multiple reports.

Fosun publishes Forbes in China, and it owns 1 Chase Manhattan Plaza in Manhattan.

The pricetag for the purchase? Some $250 million, or $150 million less than the Forbes family had priced the magazine when it was put on the block last year.

Initial speculation had everyone from Bloomberg to a South Korean company interested in purchasing the title.

The New York Post’s Keith Kelly reports that Steve Forbes may keep a minority interest in the publication.

The deal is expected to go through next week.

Tags: forbes, forbes buyer, forbes magazine, forbes sold, magazine sales, magazines