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Posts Tagged ‘Forbes’

Forbes Deal Finalized

forbes_logo_mainForbes Media officially has a lot less Forbes involved in it. In late July, a deal was struck with Hong Kong-based Asset Management (the number being thrown around was $475 million) and now it is done.

Asset Management now owns a majority of the company, officially pushing the Forbes family aside for the first time since the publisher was founded in 1917. The Forbes family still owns a minority stake that some are placing at around 20 percent.

For now, Forbes staffers can breathe easy, as no changes are planned. Until October 8, at least. The New York Post reports that’s when Forbes CEO Mike Perlis will hold a meeting with everyone to discuss what — if any — alterations are coming. Perlis is now in Hong Kong meeting with Forbes’ new owners.

Elevation Partners, which previously held about 44 percent stake in Forbes Media, has been bought out.

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This NFL Owner Was a ‘Reporter’s Dream’

DonVanNattaJrTwitterProfilePicDon Van Natta Jr.‘s latest long-read is another winner. Cleverly Texas-titled “Jerry Football,” the ESPN magazine feature article goes deep in an effort to understand what makes Dallas Cowboys owner Jerry Jones tick.

Forbes blogger Eric Jackson has followed up with Van Natta Jr. (pictured) to get some insight about the Jerry Jones reporting process. The senior ESPN writer told Jackson one aspect of the mission made it easy:

“When you ask Jerry Jones a question, you get a gusher of words (and sometimes emotions) delivered in an unfiltered way,” says Van Natta Jr. “In that respect, he’s a reporter’s dream.”

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Media Scandalized by Non-Scandal

In his take today on the hacking of naked celebrity cloud photo materials by perpetrator or perpetrators unknown, Forbes contributor Scott Mendelson makes an astute observation.

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From his blog post:

Outlets as mainstream as People and CNN are referring to the photo leak as a “scandal.” All due respect, it’s not a scandal. The actresses and musicians involved did nothing immoral or legally wrong by choosing to take nude pictures of themselves and put them on their personal cell phones.

You may argue, without any intended malice, that it may be unwise in this day-and-age to put nude pictures of yourself on a cell phone which can be hacked and/or stolen. But without discounting that statement, the issue is that these women have the absolute right and privilege to put whatever they want on their cell phones with the expectation that said contents will remain private or exclusive to whomever is permitted to see them just like their male peers. The burden of moral guilt is on the people who stole said property and on those who chose to consume said stolen property for titillation and/or gratification.

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Morning Media Newsfeed: Forbes Sells Majority Stake | Kindle Unlimited Unveiled

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Forbes Media Sells Majority Stake to Hong Kong Investor Group (FishbowlNY)
In the past six years, Forbes has expanded its international publishing reach from nine licensed local editions to 36. Content is now consumed in 63 countries, in 21 different languages. Friday, the company solidified its international reach with the announcement that a majority stake has been sold to a group of Asian investors. NYT / DealBook The terms were not disclosed, but the transaction values Forbes Media at $475 million, said a person close to the deal. Forbes’ new controlling shareholders will be Integrated Whale Media Investments, a group that includes the Hong Kong investor Tak Cheung Yam and Wayne Hsieh, the Singaporean co-founder of AsusTek Computer. Forbes The Forbes family will retain a significant ownership stake, will stay actively involved in Forbes Media and will work with the investor group to further increase market share of the existing Forbes Media product lines in media, digital, technology, as well as brand extensions. Upon closing, Elevation Partners will fully exit its investment in Forbes Media. Mashable In a statement, the family and its new majority owners framed the deal as a way to ensure Forbes‘ brand and journalistic operations continue to expand. “Our partners respect our brand and values, and support our longstanding mission of championing entrepreneurship and free market capitalism through quality, independent business journalism,” Steve Forbes said in a statement. Capital New York Forbes Media will remain headquartered in the U.S., and there will be no change at the top — Steve Forbes will continue as chairman and editor-in-chief, and Mike Perlis will remain CEO. The company reported that it made a profit in 2013; the company projected a revenue of $144.6 million for the year, according to a report.

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Steve Forbes, John Kerry Call Attention to Journalist’s Unsolved Murder

Will the July 9, 2004 murder in Moscow of rising Forbes Russia editor Paul Klebnikov ever be solved? It’s hard to say.

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On Wednesday, Forbes Media CEO and editor-in-chief Steve Forbes sent out several tweets marking the tenth anniversary of the crime, including the message above. And from Washington D.C., Secretary of State John Kerry issued a powerful statement, which began as follows:

Ten years ago today, an American journalist was shot and killed as he left his Moscow office. Paul Klebnikov did more than write about politics and business in Russia. He was a voice of conscience in the fight against corruption.

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Morning Media Newsfeed: Coulson Gets 18 Months | SiriusXM Fires Opie & Anthony‘s Cumia

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Andy Coulson Gets 18 Months in Tabloid Phone Hacking (NYT)
Andy Coulson, a former senior editor in Rupert Murdoch’s news empire and a onetime adviser to Prime Minister David Cameron, was sentenced on Friday to 18 months in prison for his part in the phone hacking scandal that convulsed Britain’s press, police and political elite and inspired calls for tighter regulation of journalists. HuffPost / AP Coulson was convicted June 24 after an eight-month trial triggered by a tabloid-wrongdoing scandal that led Murdoch to shut down the News of The World in 2011. Another former editor, Rebekah Brooks, and four others were acquitted. The Guardian The offense carries a maximum sentence of two years’ imprisonment, but Coulson received a discount of several months for his previous good character. He could be out in less than nine months because, as a non-violent offender, he is required to serve just half his sentence. THR Three other former News of the World staffers and one private investigator who hacked phones for the paper also pleaded guilty to hacking and also received their sentences Friday. They are former news desk editors Greg Miskiw, James Weatherup and Neville Thurlbeck, as well as Glenn Mulcaire, a private investigator who was used for hacking. Miskiw and Thurlbeck were sentenced to six months each, Weatherup got a suspended sentence of four months, and Mulcaire was given a suspended sentence of six months. Variety Coulson faces a retrial along with former royals editor Clive Goodman on separate charges that they made illegal payments to police officers to obtain royal phone directories. Over a period of more than a decade, journalists at the now-shuttered Sunday paper listened in on thousands of voicemails belonging to celebrities, politicians and crime victims.

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Forbes Japan Launches

forbes_logo_mainForbes has made its way to Japan. The monthly magazine — published under a licensing agreement between Forbes Media and Tokyo’s Atomixmedia — will have an initial circulation of 80,000.

“The launch of Forbes Japan comes at a critical time in Japan,” said Makoto Takano, editor-in-chief of Forbes Japan and CEO of Atomixmedia, in a statement. “The economy is emerging from decades of deflation and regaining confidence. It is getting ready to resume its vital role as a key driver of the global economy. With Forbes being the world’s leading global business brand, and our knowledge of the Japanese market, Forbes Japan will be a great success.”

Forbes Japan is the latest of its brands in the Asia Pacific region. Forbes Media also publishes Forbes Asia, Forbes China, Forbes Korea, Forbes India, Forbes Indonesia, Forbes Thailand and Forbes Vietnam.

Morning Media Newsfeed: Dean Baquet Treated for Cancer | Julianna Goldman to CBS

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New York Times Editor Treated for Cancer (NYT)
Dean Baquet, the executive editor of The New York Times, had a malignant tumor removed from his kidney on Saturday and will spend about a week away from the office while recovering, he said in an email to the newspaper’s staff on Monday morning. FishbowlNY In the memo to Times staffers, Baquet sounded upbeat about the situation. He described the surgery as “minimally invasive” and “completely successful.” “My doctors have given me an excellent prognosis,” added Baquet. New York Post The tumor was discovered by doctors on June 12, Baquet said in the email — and the decision was made that the situation needed “immediate attention.” HuffPost Baquet assured his newsroom that he would be back “as soon as possible.” “I know this comes as we are all trying to move forward in the newsroom,” he wrote. He told the newsroom in his email that he would be keeping “in touch”with the paper’s leaders while he stayed at home to recover. Capital New York The news of Baquet’s illness comes promptly after a period of upheaval at the paper. Baquet, 57, took the top editorial position on the Times masthead only last month, after the surprise dismissal of Jill Abramson. As managing editor, Baquet had been Abramson’s second in command. He has yet to appoint his own.

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Morning Media Newsfeed: Media Cover Cantor Loss | RTDNA Announces Winners

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Right-Wing Radio’s Win on Cantor (Politico)
Dave Brat didn’t have much money, staff or name recognition — but he did have Laura Ingraham. In the weeks leading up to Tuesday’s primary, the conservative talk radio host did more to raise Brat’s profile in his Virginia district than his own campaign could ever have done with its paltry budget and paid staff of two, political experts in the state and Washington said Wednesday. TVNewser Cable news networks went into overdrive with the stunning news Tuesday night. At 8:06 p.m. MSNBC’s Rachel Maddow interrupted Chris Hayes‘ show, which had been pre-recorded. Maddow called it “a shocking development in American politics.” (Hayes returned live at 8:38 p.m.). CNN’s Anderson Cooper called the race at 8:11 p.m. and FNC’s Trace Gallagher broke into The O’Reilly Factor at 8:14 p.m. ET, before Bret Baier and Megyn Kelly picked up coverage and filled out the 8 p.m. ET hour. NYT Few people did more than Ingraham to propel Brat, a 49-year-old economics professor who has never held elected office before, from obscurity to national conservative hero, defeating house majority leader Eric Cantor in the Republican primary held Tuesday night. And few stories better illustrate how his out-of-nowhere victory was due in large part to a unique and potent alignment of influential voices in conservative media. New York Daily News / Mouth of The Potomac Ingraham likened a rally she held for Brat to what she saw in 2008 when freshman senator Barack Obama was campaigning in the Iowa caucuses. She left Iowa knowing Obama would win. “The national media totally missed this,” said Ingraham, a nervy and entertaining conservative, noting how little coverage the rally got, mostly via the local NBC station and a conservative website. TVNewser Nearly 4 million people tuned into one of the cable news networks during the 8 p.m. ET hour Tuesday night as news broke that Cantor had been defeated in his Virginia primary race. As usual, Fox News led the way in both ratings metrics, averaging 2,794,000 total viewers and 485,000 adult 25-54 viewers in the 8 p.m. hour.

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Morning Media Newsfeed: Angelou Dies at 86 | Williams Interviews Snowden | Amazon Talks Hatchette Dispute

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Medal of Freedom Recipient Maya Angelou Dies at 86 (FishbowlDC)
Poet and author Maya Angelou died Wednesday at the age of 86, according to her literary agent Helen Brann. Angelou received the country’s highest civilian honor — the Medal of Freedom — in 2011 from President Obama, and is most widely known for her award-winning memoir I Know Why The Caged Bird Sings. NYT The cause of death was not immediately known, but Brann said Angelou had been frail for some time and had heart problems. GalleyCat In addition to writing, Angelou proved to be an accomplished Renaissance woman who worked as an activist, entertainer, streetcar conductor, magazine editor, college professor and lecturer. CNN Angelou’s legacy is twofold. She leaves behind a body of important artistic work that influenced several generations. But the 86-year-old was praised by those who knew her as a good person, a woman who pushed for justice and education and equality. In her full life, she wrote staggeringly beautiful poetry. She also wrote a cookbook and was nominated for a Tony. Reuters Literary and entertainment figures, politicians and fans mourned her passing on Wednesday. Obama said his sister, Maya, was named for the author, whom he called “a brilliant writer, a fierce friend and a truly phenomenal woman.” Media mogul Oprah Winfrey, who frequently threw lavish birthday parties for Angelou and considered her a mentor, said she would remember her friend most for how she lived her life. “She moved through the world with unshakeable calm, confidence and a fierce grace,” Winfrey said.

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