Editor’s note: This article was first published in November 2013. It is news from 15 November 2013, and its average circulation of 932,884 copies is a 2013 figure. The sale went ahead: in 2014 Forbes Media sold a majority stake to a Hong Kong-based investor group.
The well-known Forbes magazine and its website, Forbes.com, have decided to put themselves up for sale after interest from a few “suitors”, according to a report published today by their most direct competitor, Bloomberg.com. The company has hired Deutsche Bank AG to represent it in the negotiations.
According to Bloomberg, Forbes wants at least $400 million.
The magazine is one of the most influential publications covering business and finance. It is known around the world and cited as a reference for its rankings of the richest people in the United States and the world, and it has an average circulation of 932,884 copies, on top of the millions of visits its website receives.
The history of Forbes goes back to 1917, when BC Forbes founded the magazine. It found success in the hands of his son, Malcolm Forbes, who turned it into a showcase of American wealth and a mirror of capitalism. But the person who truly made it a global reference was Malcolm’s son, Steve Forbes (grandson of the founder), with the help of new technologies. Steve Forbes ran twice, unsuccessfully, for president of the United States.
The question now is: whose hands will this influential magazine end up in?
Featured image: Elisa.rolle, CC BY-SA 4.0, via Wikimedia Commons.
