Media News

Forbes union concerned about potential sale to Koch

The union that represents Forbes editorial staffers sent out the following on Friday:

As the members of the Forbes Union, we are dedicated to improving the working conditions of our members and protecting the journalism we practice.

Recently, we saw yet another story about a possible sale of Forbes but this time to a deeply troubled potential buyer, Koch Inc.’s private equity arm. Forbes CEO Mike Federle would neither confirm nor deny a sale in an email update to staff.

Over the past several years, Forbes has entered in several failed sales, each one fraught with ethical minefields for the members of the newsroom. This alleged sale would be no different. Reporters in our newsroom cover the Koch family, who are longstanding donors to libertarian and conservative causes. This is why we are fighting for editorial integrity provisions in our contract that would guarantee a strict separation of the business interests of the company and its owners and the editorial decision-making process. The newsroom’s independence must be guaranteed. We refuse to become a tool of political activism.

Corporate decisions like these are the exact reason we approved a vote of no confidence in Federle as well as Randall Lane, chief content officer. They have not upheld newsroom separation and ethics in the pursuit of chasing dollar signs.

No matter what happens with Forbes, we are the reason readers continue to turn to us. Our journalism is the value behind Forbes. As Forbes management continues to chase dollars, we are laser focused on preserving our editorial integrity with a strong contract that recognizes the value of our members.

Chris Roush

Chris Roush was the dean of the School of Communications at Quinnipiac University in Hamden, Connecticut. He was previously Walter E. Hussman Sr. Distinguished Professor in business journalism at UNC-Chapel Hill. He is a former business journalist for Bloomberg News, Businessweek, The Atlanta Journal-Constitution, The Tampa Tribune and the Sarasota Herald-Tribune. He is the author of the leading business reporting textbook "Show me the Money: Writing Business and Economics Stories for Mass Communication" and "Thinking Things Over," a biography of former Wall Street Journal editor Vermont Royster.

Recent Posts

Dow Jones reports slight increases in revenue, earnings

Dow Jones & Co., the parent of The Wall Street Journal, MarketWatch.com, Barron's and Investor's…

27 mins ago

The Independent hires Baragona as senior reporter

The Independent has hired Justin Baragona as a senior reporter. He will be covering the intersection of…

3 hours ago

Econ Reporting Hardship Program sets up Ledbetter Fund

Author and editor James Ledbetter was a beloved friend, Economic Hardship Reporting Project Board member…

3 hours ago

FT names Brower US news editor, Edgecliffe-Johnson departing

Financial Times editor in chief Roula Khalaf sent out the following on Friday: Hello everyone I'm pleased…

3 hours ago

WSJ’s Brown is leaving publication

Ken Brown of The Wall Street Journal is leaving the news organization. He is an…

1 day ago

Jones will not seek another Dow Jones News Fund board term

Dow Jones News Fund President Brent W. Jones announced at the nonprofit journalism training organization’s…

1 day ago