Forbes chairman and editor-in-chief Steve Forbes is apparently willing to take a 20 percent stake in the company after a sale to new owners, a well-placed source tells Keith Kelly of the New York Post.
Kelly writes, “That could have the effect of lowering the out-of-pocket costs to potential suitors.
“According to the Financial Times, second-round bids prior to serious due diligence were in the $350 million to $475 million range — considered amazingly pricey by most potential buyers in the US.
“The list of suitors, however, is dominated by bidders from Asia, where the Capitalist Tool and its rich lists are closely watched and the Forbes brand enjoys a better reputation than it does on the home front. Said one source of the deep-pocketed Asian suitors, ‘They are looking to gentrify their money.’
“‘This is a brand that will need lots of continuing investment to achieve a further global footprint, and the ability to conserve some cash going in, and then investing, could help the buyer,’ said Ken Doctor, an analyst who writes the Newsonomics column for the Nieman Journalism Lab.”
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