Categories: OLD Media Moves

Forbes employees believe it will be bought by Asian company

Forbes insiders believe that the business magazine’s operations are about to be sold to an Asian buyer, reports Keith Kelly of the New York Post.

Kelly writes, “CEO Mike Perlis, on that day, was moderating a forum at the Interactive Advertising Bureau in Palm Desert, Calif.

“According to several attendees, he boasted of transforming Forbes Media in the three years since he took over operations of the family-owned company founded in 1917 — but was closed-mouthed on who might be buying it.

“The finalists appear to be China-based Fosun International, which publishes a Chinese edition of the magazine, and Spice International, a diversified Singapore company that is headed by Indian-born billionaire Guo Guangchang.

“A spokeswoman for Forbes Media declined to comment.”

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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