Jeff Jarvis, a journalism professor at the CUNY Graduate School of Journalism, writes about Forbes in the wake of its announcement Friday that it was selling a majority stake to overseas investors.
Jarvis writes, “The problem in the end for Forbes, I believe, is that the brand became even more devalued. I illustrate this very simply: Now, when I see a link to Forbes on Twitter, I don’t know whether it is going to take me to (1) the good work of a Forbes journalists, (2) the good work of a Forbes contributor, (3) the bad work of one of many Forbes contributors, or (4) the paid and wordy shilling of a Forbes advertiser, e.g.:
[Forbes] Korea’s Entrepreneurs Garner Global Validation As Local ‘Startup’ Valuations Soar Into The Billions http://t.co/azshQ00GSZ
— BN3WS (@BN3WS) July 18, 2014
“Thus, I hesitate three beats before clicking on a Forbes link. That is the definition of a devalued media brand. And that is precisely what other media companies should fear as they more and more try to fool their readers into thinking that what we used to call advertising is now something else that can comfortably live under brands, enigmatically labeled.
“The real lesson of Forbes is that there are no easy answers and quick solutions for transforming legacy media companies. DVorkin became a key tourist attraction for media executives touring New York. I know because I took many of them to meet Lewis. He generously shared his means and methods. But I also told these executives that the path was not without the peril I just described.”
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