Joe Mansueto may be about to invest in another media company.

Keith Kelly in the New York Post reports that the billionaire founder and chief of Chicago-based mutual fund ratings giant Morningstar "is rumored to be looking at Forbes Media."

According to the newspaper, sources expect Forbes to sell for "far less than the $400 million" that its backers want.

Mansueto already has several other media investments. His Mansueto Ventures backs Fast Company and Inc., and he's a backer of Wrapports, which bought the Chicago Sun Times. 

Edited by: Neil Anderson, Managing Editor


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