FORBES Media, which publishes the well-known
financial magazine, has hired Deutsche Bank to explore a sale of the company,
chief executive Mike Perlis has told employees.
"We're organising a process to test the waters
regarding a sale of Forbes Media. We have hired Deutsche Bank to represent us,
and we expect interest from numerous suitors," Mr Perlis said in the memo,
obtained by Reuters.
He said Forbes Media hired the bank after receiving
"serious" overtures to buy the company. A source familiar with the
situation said the company could sell for $400m to $500m.
A representative for Deutsche Bank declined to
comment.
Steve Forbes, a former US presidential candidate, is
chairman and editor-in-chief of Forbes Media. The company is best known for its
annual rankings of wealthy individuals.
The Forbes.com website had 26m unique visitors in
the first nine months of 2013, the publisher said on its website, citing the
internet technology company comScore.
No comments:
Post a Comment