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Forbes
Forbes
(/fɔːrbz/) is an American business magazine. Published bi-weekly, it features original articles on finance, industry, investing, and marketing topics. Forbes
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 of the richest Americans (the Forbes
Forbes
400), of the world's top companies (the Forbes
Forbes
Global 2000), and The World's Billionaires. The motto of Forbes
Forbes
magazine is "The Capitalist Tool". Its chair 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 through their vehicle Integrated Whale Media Investments.[3][4]

Contents

1 Company history

1.1 Sale of headquarters and relocation to Jersey City 1.2 Sale to Integrated Whale Media (51% stake)

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

Company history[edit]

Forbes
Forbes
Building on Fifth Avenue
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,[5] founded Forbes
Forbes
magazine on September 15, 1917.[6][7] 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.[5] Drey became vice-president of the B.C. Forbes Publishing Company,[8] while B.C. Forbes
Forbes
became editor-in-chief, a post he held until his death in 1954. B.C. Forbes
Forbes
was assisted in his later years by his two eldest sons, Bruce Charles Forbes
Forbes
(1916–1964) and Malcolm Stevenson Forbes
Malcolm Stevenson Forbes
(1917–1990). Bruce Forbes
Forbes
took over on his father's death, and his strengths lay in streamlining operations and developing marketing.[6] During his tenure, 1954–1964, the magazine's circulation nearly doubled.[6] On Malcolm's death, his eldest son Malcolm Stevenson "Steve" Forbes Jr. (1947–) became President and Chief executive of Forbes
Forbes
and Editor-in-Chief of Forbes
Forbes
magazine.[9] Between 1961 and 1999 the magazine was edited by James Michaels.[10] In 1993, under Michaels, Forbes
Forbes
was a finalist for the National Magazine Award.[11] In 2006, an investment group Elevation Partners
Elevation Partners
that includes rock star Bono bought a minority interest in the company with a reorganization, through a new company, Forbes
Forbes
Media LLC, in which Forbes
Forbes
Magazine and Forbes.com, along with other media properties, is now a part.[9][12] 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".[13] It was later revealed that the price had been US$264 million.[14] Sale of headquarters and relocation to Jersey City[edit] In January 2010, Forbes
Forbes
reached an agreement to sell its headquarters building located on Fifth Avenue
Fifth Avenue
in Manhattan
Manhattan
to New York University; terms of the deal were not publicly reported, but Forbes
Forbes
would continue to occupy the space under a sale-leaseback arrangement.[15] The company's headquarters subsequently moved to the Newport section of downtown Jersey City, New Jersey
Jersey City, New Jersey
in 2014.[16][17] Sale to Integrated Whale Media (51% stake)[edit] In November 2013, Forbes
Forbes
Media, which publishes Forbes
Forbes
magazine, was put up for sale.[18] This was encouraged by minority shareholders Elevation Partners. Sale documents prepared by Deutsche Bank revealed that the publisher's 2012 EBITDA was US$15 million.[19] Forbes reportedly sought a price of US$400 million.[19] In July 2014, the Forbes
Forbes
family bought out Elevation and then sold a 51 per cent majority of the company to Integrated Whale Media Investments.[14][3][4] Other publications[edit] Apart from Forbes
Forbes
and its lifestyle supplement, Forbes
Forbes
Life, other titles include Forbes
Forbes
Asia and fifteen local language editions. Steve Forbes
Forbes
and his magazine's writers offer investment advice on the weekly Fox TV show Forbes on Fox
Forbes on Fox
and on Forbes
Forbes
on Radio. Other company groups include Forbes
Forbes
Conference Group, Forbes
Forbes
Investment Advisory Group and Forbes
Forbes
Custom Media. From the 2009 Times report: "Steve Forbes
Forbes
recently returned from opening up a Forbes
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's daughter, Moira Forbes, with a companion Web site.[13] The company formerly published American Legacy magazine as a joint venture, although that magazine separated from Forbes
Forbes
as of May 14, 2007.[20] The company also formerly published American Heritage and Invention & Technology magazines. After failing to find a buyer, Forbes suspended publication of these two magazines as of May 17, 2007.[21] Both magazines were purchased by the American Heritage Publishing Company and resumed publication as of the spring of 2008.[22] Forbes
Forbes
has published the Forbes Travel Guide
Forbes Travel Guide
since 2009. On January 6, 2014, Forbes
Forbes
magazine announced that, in partnership with app creator Maz, it was launching a social networking app called "Stream". Stream allows Forbes
Forbes
readers to save and share visual content with other readers and discover content from Forbes
Forbes
magazine and Forbes.com within the app.[23] Forbes.com[edit] Forbes.com is part of Forbes
Forbes
Digital, a division of Forbes
Forbes
Media LLC. Forbes's holdings include a portion of RealClearPolitics. Together these sites reach more than 27 million unique visitors each month. Forbes.com employs the slogan "Home Page for the World's Business Leaders" and claimed, in 2006, to be the world's most widely visited business web site.[24] The 2009 Times report said that, while "one of the top five financial sites by traffic [throwing] off an estimated $70 million to $80 million a year in revenue, [it] never yielded the hoped-for public offering".[13] Forbes.com uses a "contributor model" in which a wide network of "contributors" writes and publishes articles directly on the website.[25] Contributors are paid based on traffic to their Forbes.com pages; the site has received contributions from over 2,500 individuals, and some contributors have earned over US$100,000, according to the company.[25] Forbes
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.[26] 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
The New Republic
in 1998, an article that drew attention to internet journalism. At the peak of media coverage of alleged Toyota
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.[27] 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.[28] Forbes
Forbes
argues that 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.[29] See also[edit]

Forbes
Forbes
500 Forbes
Forbes
30 Under 30

References[edit]

^ Romenesko, Jim (August 9, 2011). "Randall Lane returns to Forbes
Forbes
as editor". Poynter.org. Archived from the original on February 22, 2014.  ^ "Consumer Magazines". Alliance for Audited Media. Retrieved February 10, 2014.  ^ a b " Forbes
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
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 City, p. 6, OCLC 2447287 ^ a b ' Forbes
Forbes
Announce Elevation Partners
Elevation Partners
Investment in Family Held Company' Elevation Partners
Elevation Partners
press release, August 6, 2006. ^ Pérez-Peña, Richard (October 4, 2007). "James Michaels, Longtime Forbes
Forbes
Editor, Dies at 86". The New York Times. Retrieved January 5, 2008.  ^ "National Magazine Awards Database". Retrieved January 5, 2008.  ^ "NussbaumOnDesign Bono
Bono
Buys into Forbes, Launches Product Red in US and Expands His Brand. – BusinessWeek". Retrieved January 5, 2008.  ^ a b c "Even Forbes
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 (July 19, 2014). " Forbes
Forbes
sold to Asian investors". MarketWatch. Market Watch, Inc. Retrieved June 18, 2017.  ^ Forbes
Forbes
Sells Building to N.Y.U.. New York Times Media Decoder. Retrieved on January 7, 2010. ^ Mike Schneider (December 18, 2014). " Forbes
Forbes
Moves Across the Hudson to Jersey City". WNET – NJTV. Retrieved June 14, 2015.  ^ " Forbes
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 November 25, 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
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
Forbes
contributor model: Technology, feedback and incentives". journalism.co.uk. Retrieved October 13, 2013.  ^ " Forbes
Forbes
gives advertisers an editorial voice". emedia. Archived from the original on November 9, 2013.  ^ "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 April 14, 2017.  ^ Hruska, Joel. " Forbes
Forbes
forces readers to turn off ad blockers, promptly serves malware". Extreme Tech. Retrieved April 14, 2017. 

Further reading[edit]

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
Forbes
and Fortune from 1966 to 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 City: 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[edit]

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