Keith Kelly of The New York Post writes Wednesday that Forbes magazine has sold its two helicopters.
Kelly wrote, “Sources say that Elevation Partners, an investment firm that includes U2 frontman Bono and Roger McNamee, is looking for rapid growth and a big Internet play, and like most investors, wants to see results sooner rather than later. As such, the pressure is on.
“The family-run empire is led by Chairman Steve Forbes and his brother Timothy, the chief operating officer, with other family members, including Christopher “Kip” Forbes and Robert Forbes as stockholders and working executives.
“At the same time, the company, now in its third generation of family ownership, also has some fourth-generation involvement. Moira Forbes, the eldest daughter of Steve Forbes, is among the most active.
“She’s the publisher of the company’s newest titles, ForbesLife Executive Women, which is aimed at professional women and appears to be one of the few areas where the company is spending money. Its first issue hits this month.”
Read more here.
