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Forbes magazine up for sale

NEW YORK: Forbes Media, which publishes the Forbes magazine, best known for its annual billionaire and power lists, is up for sale and hopes to generate at least US$ 400 million through the move.

Forbes Media's Chief Executive Officer Michael Perlis wrote in an email to staff that the company has received "more than a few 'over the transom' indications of interest to buy Forbes Media."

"The frequency and serious nature of these overtures have brought us to a decision point. We're organizing a process to test the waters regarding a sale of Forbes Media," said Perlis, the first non-member to run the Forbes family-owned 96-year-old business magazine


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