Crypto company sues Forbes reporter Farivar
Cyrus Farivar, a tech reporter at Forbes, has been sued by the parent company behind a cryptocurrency called “Bitcoin Latinum” for an article he wrote about a lawsuit it filed, reports Mike Masnick of Techdirt.com. Masnick reports, “Given that the word ‘Latinum’ apparently comes from a currency in Star Trek, and one of the claims in […]
Forbes CEO Federle on layoffs: We need to shift resources
Forbes Media CEO Mike Federle sent out the following on Thursday afternoon: Hi everyone – Over the past few years, we’ve continued to find ways to diversify our business and revenue streams, and we’ve seen significant growth as a result. As we continue to position ourselves to fully align with our 2024 business strategy, we […]
Forbes union statement on layoffs
In an email to staff on Thursday, Forbes management announced plans to lay off less than 3 percent of the workforce. The Forbes Union and The NewsGuild of New York have not received notice as of Thursday that our members are affected. The union is in negotiations for a first contract with the company. Changes […]
Forbes staff begins three-day strike
Forbes employees are striking for the first time, protesting the lack of progress in collective bargaining more than two years since voting to join a union, reports Josh Eidelson of Bloomberg News. Eidelson reports, “Unionized employees, including reporters, editors, designers and videographers, plan to start a work stoppage at 9 a.m. New York time on Thursday, […]
Fortune hires Brady to run its events business
Fortune has hired Diane Brady as executive director of Fortune Live Media and editorial director of Fortune CEO Initiative. She will start Jan. 29. Brady will serve as a coordinating moderator of a growing events portfolio. She will also curate Fortune’s CEO Initiative, a global gathering of C-suite and executive leadership. Brady will help create […]
Forbes Daily newsletter is approaching 1 million subscribers
Forbes flagship newsletter Forbes Daily is approaching 1 million subscribers, CEO Mike Federle said in his annual video to Forbes employees. “Our newsletter strategy has produced great results,” said Federle. Last month, an $800 million deal to sell Forbes Media Group to a group of investors led by American tech executive Austin Russell fell through. […]
Forbes parent terminates deal to sell
Forbes CEO Mike Federle sent out the following on Tuesday: Hi everyone — This morning our parent Integrated Whale Media terminated its agreement to sell Forbes to the Austin Russell-led Investor Group, which couldn’t deliver the closing. The cancellation of this sale does not affect our day-to-day operations or business goals. In fact, we are well positioned […]
Forbes buyer Russell seeking to raise money to close deal
Austin Russell, the 28-year-old CEO of electric vehicle company Luminar Technologies, is trying to replace hundreds of millions of dollars for his bid to buy Forbes, reports Sara Fischer of Axios. Fischer reports, “Russell was blindsided by Indian investment firm Sun Group and others who didn’t wire the money they were contractually obligated to send on the […]
Forbes buyer asks for two more weeks to close deal
Austin Russell, the 28-year-old Luminar Technologies CEO who is seeking to buy Forbes, has requested an extension of a Nov. 1 deadline to finalize his $800 million bid, reports Sara Fischer of Axios. Fischer reports, “Representatives for Russell have said that Russell’s bid is ‘substantially oversubscribed, with over $2 billion of demand’ from mostly American investors. But ‘demand’ […]
Forbes staff says sources concerned about magazine ownership
Forbes journalists have told the publication’s management that some sources are refusing to share sensitive information with them due to their new reported ownership, reports Max Tani of Semafor. Tani reports, “Earlier this month, the Washington Post reported that Magomed Musaev, a Russian business tycoon, was behind the purchase of Forbes from its current owner. “The move alarmed the […]
