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 […]
Russian tycoon claims he’s behind Forbes purchase
Russian tycoon Magomed Musaev has claimed he’s the money behind the recent acquisition of Forbes, instead of tech founder Austin Russell, according to five audio recordings and one video recording obtained by The Washington Post in which he discussed the deal. Catherine Belton, Todd C. Frankel and Elizabeth Dwoskin of The Post report, “‘I just bought […]
Ex-Trump CFO testimony ends after Forbes accuses him of perjury
The Trump Organization’s former chief financial officer Allen Weisselberg’s testimony ended abruptly on Thursday afternoon, hours after Forbes magazine accused the convicted tax cheat of perjuring himself, reports Adam Klasfeld of The Messenger. Klasfeld reports, “Weisselberg insisted on Tuesday from the witness stand that he “never focused” on calculating the square footage of the former president’s Trump […]
Forbes hires Wenger as executive editor
Forbes has hired Ty Wenger to be executive editor. He has been a deputy editor at Inc. magazine since February 2021. Wenger previously spent the last 10 years at ESPN The Magazine, first as a senior editor and then as a deputy editor. He also hosted and produced its podcast. He previously was deputy managing editor […]
