Categories: OLD Media Moves

Forbes sells ranch, close to selling HQ

Keith Kelly of The New York Post reports Friday that Forbes has sold its Colorado ranch and has found a buyer for its lower Manhattan headquarters as it pares its assets to focus on its publishing operations.

Kelly wrote, “It’s the largest ranch in the state and traces it roots to the Sangre de Cristo Land Grant of 1843. Malcolm Forbes, the late patriarch of the current generation of Forbes family members who run the company, took over the ranch in 1969.

“Insiders say the family has also found a buyer for its Greenwich Village headquarters.

“Our source said that the buyer is a developer who will allow Forbes Media LLC to stay put as a renter for two years while it searches for a new headquarters.

“Calls to Forbes Media officials and to Cushman & Wakefield real estate broker Scott Latham were not returned.”

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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.