Forbes Media, the company that edits the North American magazine Forbes, will go on sale. In a statement to employees, the company’s general director, Mike Perlis, said that he has already received purchase proposals.
According to Bloomberg, since 2008 the company has reported falling profits, and has even sold assets, such as its Manhattan building (New York, United States), to reverse the situation. The financial crisis made the company invest in digital, but the initiative was not enough for the publisher to recover.
Deutsche Bank has been hired to represent the negotiations and expects to receive numerous interested parties. Forbes Media estimates it can make between $ 200 to $ 400 million.
The company was founded in 1917 by former presidential candidate Steve Forbes and launched several successful magazines, such as the homonym Forbes. The vehicle prospered in the hands of Malcom, son of creator BC Forbes, and became an icon of capitalism, in addition to a showcase of American wealth. Until today it is notorious for its ranking of billionaires.
Via Bloombergand Wall Street Journal
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