Thai investor gets Fortune

Meredith Corporation, which acquired Time Inc. last year, said it has agreed to sell Fortune magazine to Thai businessman Chatchaval Jiaravanon for US$150m in cash. Meredith said Jiaravanon will own Fortune as a "personal private investment" independent of his businesses.

Fortune President Alan Murray will now also become its CEO and Clifton Leaf will continue as Fortune editor-in-chief.

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