Categories: OLD Media Moves

Forbes could maintain stake in company

Forbes chairman and editor-in-chief Steve Forbes is apparently willing to take a 20 percent stake in the company after a sale to new owners, a well-placed source tells Keith Kelly of the New York Post.

Kelly writes, “That could have the effect of lowering the out-of-pocket costs to potential suitors.

“According to the Financial Times, second-round bids prior to serious due diligence were in the $350 million to $475 million range — considered amazingly pricey by most potential buyers in the US.

“The list of suitors, however, is dominated by bidders from Asia, where the Capitalist Tool and its rich lists are closely watched and the Forbes brand enjoys a better reputation than it does on the home front. Said one source of the deep-pocketed Asian suitors, ‘They are looking to gentrify their money.’

“‘This is a brand that will need lots of continuing investment to achieve a further global footprint, and the ability to conserve some cash going in, and then investing, could help the buyer,’ said Ken Doctor, an analyst who writes the Newsonomics column for the Nieman Journalism Lab.”

Read more here.

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.

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