HOME
The Info List - Forbes



--- Advertisement ---


_FORBES_ (/fɔːrbz/ ) is an American business magazine . Published bi-weekly, it features original articles on finance , industry , investing, and marketing topics. _Forbes_ also reports on related subjects such as technology , communications, science , politics , and law . Its headquarters is located in Jersey City , New Jersey . Primary competitors in the national business magazine category include _Fortune _ and _ Bloomberg Businessweek _. The magazine is well known for its lists and rankings, including its lists of the richest Americans (the Forbes 400 ) and rankings of world's top companies (the Forbes Global 2000 ). Another well-known list by the magazine is The World\'s Billionaires list.

The motto of _Forbes_ magazine is "_The Capitalist Tool_". Its chairman and editor-in-chief is Steve Forbes , and its CEO is Mike Perlis . It was announced on July 18, 2014 that a majority stake in the publisher had been sold to a group of investors based in Hong Kong through their vehicle Integrated Whale Media Investments.

CONTENTS

* 1 Company history

* 1.1 Sale of headquarters and relocation to Jersey City * 1.2 Sale to Integrated Whale Media

* 2 Other publications * 3 Forbes.com * 4 Controversy * 5 See also * 6 References * 7 Further reading * 8 External links

COMPANY HISTORY

Forbes Building on Fifth Avenue in New York City (now owned by New York University )

B. C. Forbes , a financial columnist for the Hearst papers, and his partner Walter Drey, the general manager of the _ Magazine of Wall Street_, founded _Forbes_ magazine on September 15, 1917 . Forbes provided the money and the name and Drey provided the publishing expertise. The original name of the magazine was _Forbes: Devoted to Doers and Doings_. Drey became vice-president of the B.C. Forbes Publishing Company, while B.C. Forbes became editor-in-chief, a post he held until his death in 1954. B.C. Forbes was assisted in his later years by his two eldest sons, Bruce Charles Forbes (1916–1964) and Malcolm Stevenson Forbes (1917–1990).

Bruce Forbes took over on his father's death, and his strengths lay in streamlining operations and developing marketing. During his tenure, 1954–1964, the magazine's circulation nearly doubled.

On Malcolm's death, his eldest son Malcolm Stevenson "Steve" Forbes Jr. (1947–) became President and Chief Executive of Forbes and Editor-in-Chief of Forbes magazine. Between 1961 and 1999 the magazine was edited by James Michaels . In 1993, under Michaels, _Forbes_ was a finalist for the National Magazine Award. In 2006, an investment group Elevation Partners that includes rock star Bono bought a minority interest in the company with a reorganization, through a new company, Forbes Media LLC, in which Forbes Magazine and Forbes.com, along with other media properties, is now a part. A 2009 _New York Times_ report said: "40 percent of the enterprise was sold ... for a reported $300 million, setting the value of the enterprise at $750 million. Three years later, Mark M. Edmiston of AdMedia Partners observed, 'It's probably not worth half of that now.'" It was later revealed that the price had been $264 million.

SALE OF HEADQUARTERS AND RELOCATION TO JERSEY CITY

In January 2010, _Forbes_ reached an agreement to sell its headquarters building located on Fifth Avenue in Manhattan to New York University ; terms of the deal were not publicly reported, but Forbes would continue to occupy the space under a sale-leaseback arrangement. The company's headquarters subsequently moved to the Newport section of downtown Jersey City , New Jersey in 2014.

SALE TO INTEGRATED WHALE MEDIA

In November 2013, Forbes Media, which publishes _Forbes_ magazine, was put up for sale. This was encouraged by minority shareholders Elevation Partners. Sale documents prepared by Deutsche Bank revealed that the publisher's 2012 EBITDA was $15 million. _Forbes_ reportedly sought a price of $400 million. In July 2014, the Forbes family bought out Elevation and then sold a 51 per cent majority of the company to Integrated Whale Media Investments.

OTHER PUBLICATIONS

Apart from _Forbes_ and its lifestyle supplement, _ Forbes Life_, other titles include _ Forbes Asia_ and fifteen local language editions. Steve Forbes and his magazine's writers offer investment advice on the weekly Fox TV show _ Forbes on Fox _ and on _ Forbes On Radio_. Other company groups include Forbes Conference Group, Forbes Investment Advisory Group and Forbes Custom Media. From the 2009 _Times_ report: " Steve Forbes recently returned from opening up a Forbes magazine in India , bringing the number of foreign editions to 10." In addition, that year the company began publishing _ForbesWoman_, a quarterly magazine published by Steve Forbes' daughter, Moira Forbes , with a companion Web site.

The company formerly published _ American Legacy _ magazine as a joint venture, although that magazine separated from Forbes as of May 14, 2007.

The company also formerly published _American Heritage _ and _Invention the site has received contributions from over 2,500 individuals, and some contributors have earned over US$100,000, according to the company. _Forbes_ currently allows advertisers to publish blog posts on its website alongside regular editorial content through a program called BrandVoice, which accounts for more than 10 percent of its digital revenue. Forbes.com also publishes subscription investment newsletters, and an online guide to web sites, _Best of the Web_.

David Churbuck founded _Forbes_'s web site in 1996. The site uncovered Stephen Glass 's journalistic fraud in _ The New Republic _ in 1998, an article that drew attention to internet journalism . At the peak of media coverage of alleged Toyota sudden unintended acceleration in 2010, it exposed the California "runaway Prius" as a hoax, as well as running five other articles by Michael Fumento challenging the entire media premise of Toyota's cars gone bad. The site, like the magazine, publishes many lists focusing on billionaires and their possessions, especially expensive homes, a critical aspect of the website's popularity.

Currently, the website also blocks internet users using ad blocking software (such as Adblock Plus ) from accessing articles, demanding that the website be put on the ad blocking software's whitelist before access is granted. This is done because customers using ad blocking software do not contribute to the site's revenue. Malware attacks have been noted to occur from Forbes site.

CONTROVERSY

In July 2017, Forbes attracted attention for publishing and then deleting an article provided by contributor Anders Corrs critical of the Asia Society Hong Kong branch's cancellation of a talk to be given by prominent democracy activist Joshua Wong . Corrs cited the Hong Kong Centre chairman Ronnie Chan 's business links with mainland China as reason to believe that blocking Wong's talk was a case of political suppression of free speech under Forbes' new Hong Kong-based owners.

SEE ALSO

* Forbes 400 * Forbes 500 * Forbes Global 2000 * The World\'s Billionaires * Forbes 30 Under 30

REFERENCES

* ^ Romenesko, Jim (August 9, 2011). "Randall Lane returns to Forbes as editor". Poynter.org . * ^ "Consumer Magazines". Alliance for Audited Media . Retrieved February 10, 2014. * ^ "NSGV Inc.: Private Company Information". Retrieved March 27, 2017. * ^ _A_ _B_ " Forbes Media Agrees To Sell Majority Stake To A Group Of International Investors To Accelerate The Company\'s Global Growth". July 18, 2014. Retrieved July 24, 2015. * ^ _A_ _B_ http://www.recode.net/2014/7/18/11628980/forbes-sells-to-hong-kong-investment-group * ^ _A_ _B_ "Notes of a Business Quizzer: Forbes" (July 6, 2007) * ^ _A_ _B_ _C_ Gorman, Robert F. (ed.) (2007) "September 15, 1917: _Forbes_ Magazine is founded" _The Twentieth Century, 1901–1940_ (Volume III) Salem Press, Pasadena, California, pp.1374–1376, p. 1375, ISBN 978-1-58765-327-8 * ^ "Media Kit 2013" (PDF). Forbes Middle East. Retrieved September 18, 2014. * ^ Commerce and Industry Association of New York (November 18, 1922) "The Association Prepares for New Demands: The Volunteer Workers" _Greater New York: Bulletin of the Merchants' Association of New York_ Commerce and Industry Association of New York, New York, p. 6, OCLC 2447287 * ^ _A_ _B_ \' Forbes Announce Elevation Partners Investment in Family Held Company\' Elevation Partners press release, August 6, 2006. * ^ Pérez-Peña, Richard (October 4, 2007). "James Michaels, Longtime Forbes Editor, Dies at 86". _The New York Times_. Retrieved January 5, 2008. * ^ "National Magazine Awards Database". Retrieved January 5, 2008.

* ^ "NussbaumOnDesign Bono Buys Into Forbes, Launches Product Red in US and Expands His Brand. – BusinessWeek". Retrieved January 5, 2008. * ^ _A_ _B_ _C_ "Even Forbes is Pinching Pennies" by David Carr , _The New York Times_, June 14, 2009 (June 15, 2009 on p. B1 of the NY ed.). Retrieved June 15, 2009. * ^ _A_ _B_ Trachtenberg, Jeffrey A (19 July 2014). " Forbes sold to Asian investors". _MarketWatch_. Market Watch, Inc. Retrieved 18 June 2017. * ^ Forbes Sells Building to N.Y.U.. _New York Timed Media Decoder_. Retrieved on January 7, 2010. * ^ Mike Schneider (December 18, 2014). " Forbes Moves Across the Hudson to Jersey City". WNET – NJTV. Retrieved June 14, 2015. * ^ " Forbes moving into Jersey City offices on Monday, report says". _The Jersey Journal_. December 12, 2014. Retrieved June 14, 2015. * ^ CHRISTINE HAUGHNEY and DAVID GELLES (November 15, 2013). " Forbes Says It Is for Sale". _New York Times_. Retrieved 25 November 2013. * ^ _A_ _B_ "The Newsonomics of Forbes\' real performance and price potential". Ken Doctor. Retrieved February 10, 2014. * ^ With The May 14 Announced Separation: Twelve-Year-Old "American Legacy"/"Forbes" Partnership Was Mutually Beneficial * ^ Charles McGrath (May 17, 2007). " Magazine Suspends Its Run in History". _The New York Times_. * ^ "Thank You for Your Feedback on the American Heritage Winter 2008 Issue". Archived from the original on December 30, 2010. * ^ " Forbes is the first magazine to launch its own social network site". _Forbes_. January 6, 2014. * ^ Edmonston, Peter (August 28, 2006). "At Forbes.com, Lots of Glitter but Maybe Not So Many Visitors". _New York Times_. Retrieved May 2, 2011. * ^ _A_ _B_ Bartlett, Rachel. "The Forbes contributor model: Technology, feedback and incentives". journalism.co.uk. Retrieved 13 October 2013. * ^ " Forbes gives advertisers an editorial voice". emedia. Archived from the original on 2013-11-09. * ^ "Jobs: Motley to Leave Time Inc., Plus More Job-Hopping Fun". Archived from the original on February 18, 2008. Retrieved January 5, 2008. * ^ Jason, Bloomberg L.P. "Ad Blocking Battle Drives Disruptive Innovation". Forbes. Retrieved 14 April 2017. * ^ Hruska, Joel. " Forbes forces readers to turn off ad blockers, promptly serves malware". Extreme Tech. Retrieved 14 April 2017. * ^ Cheng, Kris (30 July 2017). " Forbes terminates contract with writer after deleting article critical of Asia Society tycoon". _Hong Kong Free Press_. Retrieved 30 July 2017. * ^ Corrs, Anders (10 July 2017). "Chinese Influence At The Asia Society: Elitism And Radicalization In Hong Kong". Forbes. Retrieved 30 July 2017.

FURTHER READING

* Forbes, Malcolm S. (1974) _Fact and Comment_ Knopf, New York, ISBN 0-394-49187-4 ; twenty-five years of the editor's columns from _Forbes_ * Grunwald, Edgar A. (1988) _The Business Press Editor_ New York University Press, New York, ISBN 0-8147-3016-7 * Holliday, Karen Kahler (1987)_A Content Analysis of_ Business Week_,_ Forbes _and_ Fortune _from 1966–1986_ Masters of Journalism thesis from Louisiana State University, Baton Rouge, 69 pages, OCLC 18772376 , available on microfilm * Kohlmeier, Louis M.; Udell, Jon G. and Anderson, Laird B. (eds.) (1981) _Reporting on Business and the Economy_ Prentice-Hall, Englewood Cliffs, New Jersey, ISBN 0-13-773879-X * Kurtz, Howard (2000) _The Fortune Tellers: Inside Wall Street's Game of Money, Media, and Manipulation_ Free Press, New York, ISBN 0-684-86879-2 * Pinkerson, Stewart (2011). _The Fall of the House of Forbes: The Inside Story of the Collapse of a Media Empire_. New York : St. Martin\'s Press . ISBN 0312658591 . * Tebbel, John William and Zuckerman, Mary Ellen (1991) _The Magazine in America, 1741–1990_ Oxford University Press, New York, ISBN 0-19-505127-0 * Parsons, D. W. (1989) _The Power of the Financial Press: Journalism and Economic Opinion in Britain and America_ Rutgers University Press, New Jersey, ISBN 0-8135-1497-5

EXTERNAL LINKS

*