Forbes Media puts itself up for sale

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Associated Press

Posted on November 18, 2013 at 6:01 AM

Updated Monday, Nov 18 at 6:02 AM

NEW YORK (AP) — The president and CEO of Forbes Media says the company has put itself up for sale.

In a Friday letter to employees, Mike Perlis said that Forbes Media has received "more than a few" indications of interest from potential buyers. As a result, the company has hired Deutsche Bank to represent it and help it explore its options.

He says the company expects "numerous suitors."

Forbes Media, which is controlled by the Forbes family, includes Forbes magazine, which has covered wealth and finance since 1917. It's known for its annual lists of global billionaires and richest people in America.

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