Categories: OLD Media Moves

Pushing for change inside Forbes

Keith Kelly of the New York Post writes Monday that rock star Bono and Elevation Partners, who bought a minority stake in Forbes last year, are pushing for more changes at the business magazine publisher.

Kelly wrote, “Now, 12 months later, with the Forbes family selling its longtime headquarters building in Greenwich Village and its helicopters and pulling the plug on unprofitable titles, there are growing whispers around New York City and media circles from coast to coast about what is up inside the Forbes family empire.

“The answer, it appears, is that the deal with Bono and company will result in the Forbes media dynasty ending with the sale of the company — or an initial public offering of at least a sizable stake in the company.

“‘The word inside is that there will be a liquidity event in the next two years,’ one former executive told The Post.

“While Steve Forbes and his three siblings, Timothy, Robert and Chris topher, — who have run the company since the death of their fa ther, Malcolm Forbes, in 1990 — are gamely saying they want to try to groom a fourth generation to run the family’s publishing empire, observers inside and outside the company are betting it never happens.”

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.

Recent Posts

PCWorld executive editor Ung dies at 58

PCWorld executive editor Gordon Mah Ung, a tireless journalist we once described as a founding father…

12 hours ago

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…

2 days 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…

2 days 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