Categories: OLD Media Moves

Forbes may have hard time finding buyer at $400 million

Forbes magazine may not be able to find someone willing to pay the asking price of $400 million for the company, reports Keith Kelly of the New York Post.

Kelly writes, “If it gets sold, the best guess is that it will go to a wealthy overseas buyer, attracted by the magazine with the motto ‘The Capitalist Tool,’ or a wealthy vanity player along the lines of Jeff Bezos, who bought the Washington Post for $250 million, and John Henry, the new owner of the Boston Globe.

“‘It’s a better brand than it is a business,’ said one investment adviser, who has not looked at the books being sent around by Deutsche Bank.

“Forbes’ reputation in Asia, where it has seven licensees, is probably stronger than it is in the US.

“But that may not be enough.

“I do think $400 million is the very top limit and suggests an unrealistic multiple,’ said Stewart Pinkerton, a one-time managing editor at Forbes who left in 2009 and went on to write ‘The Fall of the House of Forbes’ in 2011.”

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.

View Comments

    Recent Posts

    Reuters seeks a fact-checking editor

    Reuters is seeking an experienced editor to take part in our fact-checking project and support the…

    2 hours ago

    Making financial news more accessible

    CNBC Make It reporter Ashton Jackson writes about ways to make financial news more accessible to consumers.…

    14 hours ago

    SABEW names Best in Business Book winners

    The Society for Advancing Business Editing and Writing announced Wednesday the winners and finalists for…

    19 hours ago

    Business leaders turning away from traditional biz news outlets

    Business professionals are turning away from traditional business media sources such as newspapers, magazines and…

    19 hours ago

    Wired seeks a reporter to cover tech companies

    WIRED seeks a reporter to cover tech companies and their influence, with a particular focus…

    20 hours ago

    Austin daily hires Leonard as tech reporter

    Karoline Leonard has been hired by the Austin American-Statesman as a technology reporter. Leonard graduated from…

    23 hours ago