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Forbes Media explores possible sale

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New York—Forbes Media has hired Deutsche Bank to “test the waters” regarding a possible sale of the company, according to a memo that Mike Perlis, president-CEO of Forbes Media, sent to employees today. Perlis wrote that “more than a few … indications of interest to buy Forbes Media … have brought us to a decision point.” He went on to list various accomplishments of the company in recent years, including a more than doubling of Forbes.com's digital audience, to 26 million, and the diversification of company revenue through such initiatives as licensing the Forbes Media brand to office buildings outside the U.S. and partnering with Ashford University to form the Forbes School of Business. “This year is expected to mark our best financial performance in the last six years, strengthened by revenue growth in digital as well as licensing and conferences,” Perlis wrote. In late 2010, Perlis, a former CEO of Ziff Davis Publishing who had most recently been a partner at SoftBank Capital for almost a decade, assumed duties previously handled by CEO Steve Forbes and COO Tim Forbes, who both stepped back from day-to-day management of the company.
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