Forbes Media Explores Sale

Said to be seeking $400-$500m

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Forbes Media LLC is exploring a sale of the 96-year-old media company. CEO Mike Perlis announced the news in a memo to employees today saying that as a result of the company having its best financial performance in six years, the company has gotten “more than a few” indications of interest. Deutsche Bank is handling the process.

Forbes joins other traditional publishing companies that have put themselves on the market in recent years, including Maxim and Businessweek, as they struggle with declining print revenue amid growing online competition.

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