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

    CNBC taps Sullivan as “Power Lunch” co-anchor

    CNBC senior vice president Dan Colarusso sent out the following on Monday: Before this year comes to…

    23 hours ago

    Business Insider hires Brooks as standards editor

    Business Insider editor in chief Jamie Heller sent out the following on Monday: I'm excited to share…

    24 hours ago

    Is this the end of CoinDesk as we know it?

    Former CoinDesk editorial staffer Michael McSweeney writes about the recent happenings at the cryptocurrency news site, where…

    2 days ago

    LinkedIn finance editor Singh departs

    Manas Pratap Singh, finance editor for LinkedIn News Europe, has left for a new opportunity…

    3 days ago

    Washington Post announces start of third newsroom

    Washington Post executive editor Matt Murray sent out the following on Friday: Dear All, Over the last…

    4 days ago

    FT hires Moens to cover competition and tech in Brussels

    The Financial Times has hired Barbara Moens to cover competition and tech in Brussels. She will start…

    4 days ago