Arab Today, arab today forbes magazine publisher seeks buyer
Last Updated : GMT 04:23:09
Arab Today, arab today
Arab Today, arab today

Forbes magazine publisher seeks buyer

Arab Today, arab today

Arab Today, arab today Forbes magazine publisher seeks buyer

Hanoi - AFP

Forbes Media, publisher of Forbes magazine, has hired investment bankers to explore a potential sale, the company's chief executive said Friday. Forbes Media CEO Mike Perlis, in an internal memo to employees, said the company had hired Deutsche Bank to represent it after receiving a number of informal inquiries from possible suitors in recent months. "The frequency and serious nature of these overtures have brought us to a decision point," Perlis wrote. "We're organizing a process to test the waters regarding a sale of Forbes Media," said Perlis, adding that the company expects "interest from numerous suitors." Perlis said Forbes had done well in the shifting media landscape, growing its digital revenues over 25 percent by the end of the year. The company expects 2013 to be its best year financially in six years.

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