Why a $400M price tag for Forbes is too high
Ken Doctor writes for the Nieman Journalism Lab about why the $400 million asking price is too much for Forbes Media, the parent of Forbes magazine, and he examines its growth projections for the next five years. Doctor writes, “Let’s now look at the projected (2013-2018) numbers. Most striking is the earnings (or EBITDA line). […]
Forbes moving to New Jersey
Forbes magazine is moving its base of operations out of Manhattan to New Jersey, reports Keith Kelly of the New York Post. Kelly writes, “CEO Mike Perlis gave the word but said the company is looking for ‘strategically located office space in Manhattan to serve as a New York office.’ “Perlils said the new HQ […]
Forbes draws interest from international bidders
International companies such as Germany’s Axel Springer SE, China-based Fosun International Ltd. and Singapore-based Spice Global Pvt. Ltd., are bidding for Forbes Media, the parent of business magazine Forbes, reports William Launder of The Wall Street Journal. Launder writes, “All three are expected to make ‘second round’ offers this month, the people say. “Other potential bidders include […]
Biz magazines underperformed industry in 2013
Business magazines brought in fewer ad dollars in 2013 compared to the previous year, underperforming in an industry saw a slight increase in advertising revenue. The 14 business magazines reported ad revenue of $1.33 billion in 2013, down 4.8 percent from 2012, according to data from the Publishers Information Bureau analyzed by Talking Biz news. […]
Forbes has six bidders who could pay up to $475M
Forbes Media has narrowed to six the potential buyers for its eponymous business magazine in an auction that could fetch it as much as $475 million, reports Ed Hammond of the Financial Times. Hammond writes, “The six remaining bidders, which include both strategic and trophy buyers, made preliminary offers ranging from $350m to $475m and […]
Forbes boss expects sales news in a few weeks
Keith Kelly of the New York Post reports that Forbes chairman Steve Forbes expects an announcement about its potential sale within a few weeks. Kelly writes, “The executive said he expected to hear news ‘in the next several weeks.’ Asked if he was happy with the price, since Ink had heard that it might be […]
Forbes launches social media “stream”
Forbes on Monday unveiled “Stream,” a feature that allows readers to save, share and discover visual content from the magazine and Forbes.com, reports Gavin O’Malley of Media Daily News. O’Malley writes, “Lewis DVorkin, Forbes Media chief product officer, said Stream is a response to two key trends that continue to redefine media: a shift toward […]
Snapchat CEO and Forbes clash over cover story
The 23-year-old CEO of Snapchat criticized journalists on Twitter Monday morning, claiming that some details in a recent Forbes cover story about his startup were misreported, but Forbes responded hours later with a transcript from Spiegel’s interview with the story’s author, reporter J.J. Colao, essentially proving that Spiegel misled the publication during its reporting. Kurt […]
Forbes argues it should be valued as an online business
Forbes Media is trying to convince potential buyers that it should be valued as an online business, reports William Launder of The Wall Street Journal. Launder writes, “People familiar with Forbes’ financial performance say that could prove a hard sell for a company that still has firm roots in a declining print advertising market. “Forbes […]
Outsourced content on Forbes is now outsourced
Erin Griffith writes for PandoDaily.com that the contributors who now provide most of the content on Forbes.com are now outsourcing the content they post. Griffith writes, “A curious ‘interview request’ arrived in my inbox today: A Forbes contributor would like to include my opinions in his post about equity crowdfunding. I was flattered for a […]
