by Edwin Chan
A Los Angeles investment firm is in discussions to buy out OnlyFans Ltd. in a deal that values the site at $8 billion, Reuters reported.
OnlyFans, which soared in popularity during global Covid lockdowns, has been in talks since at least March with Forest Road Company about a transaction with unknown terms, Reuters said, citing anonymous sources. The company may be engaging with other suitors as well, the news service reported.
London-based OnlyFans, which has a reputation for hosting pornographic and adult content forbidden on most other social networks, has been trying to move away from hardcore content toward less-explicit material.
The company owned by Ukrainian-born billionaire Leonid Radvinsky since 2018 has been steadily building up its stable of comedians, chefs, personal trainers and other types of creators to widen its user base.
It posted a 20% rise in profit to about $485.5 million in the year ending Nov. 30 2023, owner Fenix International said in a September report.
Forest Road is an investment firm founded in 2017 with a focus on media and digital content alongside energy and life sciences. It acquired a Formula E racing team in 2024, and bought a boutique investment bank that same year.
Some of its executives joined a special purpose acquisition company that tried to take OnlyFans public in 2022, Reuters reported, citing sources and filings with the U.S. Securities and Exchange Commission.
Copyright Bloomberg News
Rajesh Markan earlier this year pleaded guilty to one count of criminal fraud related to his sale of fake investments to 10 clients totaling $2.9 million.
From building trust to steering through emotions and responding to client challenges, new advisors need human skills to shape the future of the advice industry.
"The outcome is correct, but it's disappointing that FINRA had ample opportunity to investigate the merits of clients' allegations in these claims, including the testimony in the three investor arbitrations with hearings," Jeff Erez, a plaintiff's attorney representing a large portion of the Stifel clients, said.
Chair also praised the passage of stablecoin legislation this week.
Maridea Wealth Management's deal in Chicago, Illinois is its first after securing a strategic investment in April.
Orion's Tom Wilson on delivering coordinated, high-touch service in a world where returns alone no longer set you apart.
Barely a decade old, registered index-linked annuities have quickly surged in popularity, thanks to their unique blend of protection and growth potential—an appealing option for investors looking to chart a steadier course through today's choppy market waters, says Myles Lambert, Brighthouse Financial.
