Digital Media

Kimberly Redmond | |

Forbes Global Media Holdings, one of the oldest media outlets in the US, announced Thursday it will go public through a merger with special purpose acquisition company Magnum Opus Acquisition Ltd (NYSE: OPA) in a deal that values the combined entity at $630 million.

The deal, which is expected to raise $600 million in gross proceeds for the media company, includes a private placement of $400 million.

Reuters | |

BuzzFeed Inc will go public through a merger with blank-check company 890 5th Avenue Partners Inc (Nasdaq: ENFA), named after the fictional Avengers mansion, in a deal valuing the online media outlet at $1.5 billion.

The deal includes a $150 million convertible note financing led by Redwood Capital Management, with participation from institutional investors including CrossingBridge Advisors, Cohanzick Management and Silver Rock Financial LP.