Categories: OLD Media Moves

NYT also reports Forbes seeking investors

The New York Times, following a story that Advertising Age broke last week, is reporting on Monday that Forbes is seeking an investor or investors to help it launch an attack in Europe. The Economist is currently the only business magazine that focuses on the continent.

Andrew Ross Sorkin writes, “An investment from an outsider could also be used to bolster Forbes’s existing publishing empire, which is expanding its newsletter and conference businesses. It is unclear what kind of investor the family is seeking. It has broached the subject with a variety of possibilities including private equity investors and publishers, the people close to the company said.”

Sorkin also notes, “The family sought to bring in an outside investor in 2002, only to shelve those plans when it could not find anyone interested in the terms being offered. Several venture capital firms are said to have invested in Forbes.com, its successful online outpost.

“The world’s media investors may be eager for another opportunity. Forbes magazine ranks with BusinessWeek, Fortune and The Economist among the strongest brands in the financial magazines and commands advertising revenue thought to exceed $250 million a year. It also has a well-regarded Web site and publishes authoritative lists of the richest people in the world.”

Read more here.

Recent Posts

Making financial news more accessible

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

3 hours ago

SABEW names Best in Business Book winners

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

8 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…

8 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…

9 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…

12 hours ago

WSJ reporter Evans departs for Tradeoffs

Wall Street Journal reporter Melanie Evans has left the news organization for Tradeoffs, a nonprofit news organization…

13 hours ago