Forbes vows to keep stake in company
Forbes Media Chairman Steve Forbes has told employees he will definitely keep a minority stake in the company after it is sold, reports Keith Kelly of the New York Post.
Kelly writes, “He made the announcement at a quarterly company-wide town hall meeting on March 13.
“One insider said the impression he gave is that it was ‘only Steve’ — and not other family members — who would be staying with the new owner.
“‘He was pretty adamant,’ said one source, ‘he said, ‘I am going to be involved with the new owner.’’
“Forbes also confided that several potential suitors who wanted to do a deal without him were rejected early on. It casts some new light on the selling process, since it now appears Steve Forbes wanted to stay involved from the get-go.
“But he still did not identify the winning bidder. ‘That was pretty irritating,’ said the source, although Steve Forbes promised staffers there would be news ‘shortly.'”
Read more here.