Articles about "Forbes"

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Forbes sold to Hong Kong-based group

The majority ownership of Forbes Media has been sold to a group of investors based in Hong Kong. The Forbes family “will retain a significant ownership stake,” a release Friday says. Integrated Whale Media Investments “will provide capital, as well as financial and operational expertise, and intends to leverage its international relationships to strategically enlarge Forbes Media’s reach on a global scale.”

The company didn’t release terms. Edmund Lee, Alex Sherman and Leslie Picker reported for Bloomberg News last November that Forbes was exploring a sale. They wrote: “While Forbes is seeking at least $400 million in a sale, according to a person familiar with the matter, the company will struggle to land more than $200 million, another person said.”
Full release: … Read more


Media figures on Forbes’ list of powerful women


German Chancellor Angela Merkel takes the top spot in this year’s “The World’s 100 Most Powerful Women” list from Forbes. The list includes women from Brazil, South Korea and the U.S., women who work in technology, politics and medicine, and women in the media.

Here’s a look at that last set, with a few people whose businesses have media components as well.

No. 9: Sheryl Sandberg, COO, Facebook

Sandberg responds to questions during an interview with Megyn Kelly in April 2014. (AP Photo/Frank Franklin II)

No. 12: Susan Wojcicki, CEO, YouTube, Google

No. 14: Oprah Winfrey

Winfrey in February 2014. (Photo by Chris Pizzello/Invision/AP, file)
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During the first weekend of May, more than half of visits to Forbes came through mobile, Lewis DVorkin wrote Monday for Forbes. What does that mean? If done right, it’s a place where journalism could actually make some money.

In some ways, Facebook and Twitter paved the way. Together, they buried the adage that ad agencies recited like lemmings: readers don’t scroll. Facebook now makes tons of money from smartphone scrolling. The trick for news outlets is how to construct a mobile flow with content modules. They must appeal to visitors, but also support video, sponsorships, interstitials, galleries and more. It’s not easy. It takes the right publishing tools, collaboration with the sales and marketing teams (perish the thought), and integration with an ad server. Maybe most challenging: getting editors to think like marketers of content, not simply creators.

Lewis DVorkin, Forbes


Bloomberg: Forbes Media exploring sale


Forbes Media has drawn interest from potential buyers and is up for sale, Bloomberg reports.

The $400 million reportedly sought for Forbes magazine and would exceed the $250 million purchase price of the Washington Post and the $70 million price of the Boston Globe combined.

Lewis Dvorkin, Forbes’ chief product officer, has called a “social media operating system” that goes beyond a simple news website. Forbes magazine was founded in 1917.

Naturally, Business Insider CEO Henry Blodget has already weighed in:

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Why news orgs should make it easier for readers to distinguish staffers from contributors

When Maury Brown read a story on Forbes this week with the declarative headline “2013 Houston Astros: Baseball’s Worst Team Is The Most Profitable In History,” he knew he had to write a reply.

Yesterday Brown, founder and president of the Business of Sports Network, did just that. His piece carried an equally strong headline, “Erroneous Story Claiming Houston Astros Most-Profitable Ever A Massive Strikeout.”

Brown’s story took the Forbes piece by Dan Alexander to task, and it was published on … Forbes.

“There are few times that an article refuting a Forbes colleague is in need of publishing, but this is one of those instances,” Brown wrote. He went on to list “reasons why the story is not only off-base, it has to be classified as grossly inaccurate.” Alexander and Brown are both Forbes contributors.

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Writer who called Irish president an ‘acknowledged homosexual’ resigns from Forbes

Irish Independent

David Monagan writes that he’s resigned from Forbes after calling Irish President Michael D. Higgins an “acknowledged homosexual.” Higgins is not gay.

The mistake was a whopper, and the fault was mine,” writes Monogan, who blogged about Ireland for the site. He intended that sobriquet for David Norris, Higgins’ onetime political rival.

Monagan then turns his fire on Forbes, not for making the mistake but for creating the conditions under which such an error could grow and spread.

“The fact is that Forbes, as a corporate communication enterprise, is now consumed by a mathematical game of just generating ‘hits,’ he writes. His base pay of $200 month worked out to less than $3 an hour for the 40 hours he spent on writing his agreed-upon four posts, Monagan says.… Read more


Morning corrections: Irish president not gay, Kentucky exists

Michael D. Higgins is not an “acknowledged homosexual”: Forbes published those words about the president of Ireland Wednesday, and they “would have come as something of a shock for Mr Higgins, who has been happily married to his actress wife Sabina since 1974,” Andrew McCorkell writes in the Independent.

Forbes will be issuing an apology to President Higgins in a separate correspondence,” an editor’s note reads. “I have written millions of words about Ireland and this is the worst mistake I have ever made,” David Monagan, who made the original error, tells McCorkell.

Kentucky also lies to the west of Virginia: “A map with an article on Tuesday about the discovery of a 16th-century fort last month near Morganton, N.C., labeled incorrectly a state that borders Virginia to the west,” a correction in The New York Times Thursday reads.… Read more


What the Forbes model of contributed content means for journalism

Two years ago, was a news website like most others.

Today, it is less website, more operating system — an underlying layer of technology that hundreds of contributors use to publish independently.

Lewis DVorkin, who kickstarted the model at True/Slant and since 2010 has honed it for as chief product officer, calls it “incentive-based, entrepreneurial journalism.”

Much of the content on comes from its hundreds of contributors, who write as independent contractors.

“Entrepreneurial”? Each contributor flies solo with his own blog. He is responsible for conceiving and creating the content, ensuring its accuracy and building an engaged, loyal readership. Forbes provides the technology and compensates some of the contributors, but otherwise, like all entrepreneurs, contributors are left to sink or swim on their own.… Read more

7 Comments contributor deletes post about Sheryl Sandberg after people call it sexist

On Wednesday, contributor Eric Jackson wrote a controversial post comparing the media attention that Facebook COO Sheryl Sandberg gets to that of former Marimba CEO Kim Polese 15 years ago. By Thursday morning, Jackson had deleted the post and written an apology.

The incident raises important questions about transparency and’s publishing process, in which freelance contributors can publish and delete posts without input from editors.

In his story, Jackson wrote that Polese “didn’t deserve” to be on Time’s list of the 25 most influential people back then and that she was clearly “in the right place at the right time.” It helped, he added, that she was “young, pretty, and a good speaker.” He noted the similarities between Polese and Sandberg — “they both like(d) magazine covers and editorial spreads” — and shared this advice for Sandberg: “Maybe you should tone down the public appearances for a while and just keep your head down at Facebook.”

Readers accused Jackson of sexism, saying his post was “dreadful,” “ridiculous” and ignored all that Sandberg has achieved.… Read more


DVorkin: is more than a news site, it’s a ‘social media operating system’

Don’t call just another news website, writes Chief Product Officer Lewis DVorkin. It is “a full-fledged platform” for 1,000 expert contributors and Forbes staff alike, and “a social media operating system” to engage 30 million monthly unique visitors. Among the soon-coming social features to power that “operating system”:

  • Device-optimized home pages “for desktop, mobile and tablet users that integrate key social elements.”
  • The Follow Bar, “a new navigational feature… It will make it easier for our growing audience to follow and find all our staffers and subject experts.”
  • Anointing superusers: “Our goal is to measure desired user behaviors — the number of times you visit, the number of staffers and contributors you follow, and much more. Those who score high will have different kinds of rights and privileges.”

Earlier: Forbes contributor makes “OK money working part-time” (Poynter)… Read more