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| FORBES MEDIA LLC BACKGROUND |
| Forbes is a privately held publishing and new media company. Its flagship publication is Forbes, a bi-weekly magazine, with a circulation of over 900,000.The company’s website, Forbes.com, is the leading business site on the Web that reaches on average more than 25 million people monthly. |
| Other Forbes Media websites are: ForbesWoman.com; RealClearPolitics.com; RealClearMarkets.com; RealClearSports.com and RealClearWorld.com. Together with Forbes.com, these sites reach on average nearly 30 million business decision makers each month. |
| The company also publishes Forbes Asia and ForbesLife magazines. In addition Forbes has 21 local – language licensee editions in Africa, Argentina, Bulgaria, China, Croatia, Czech Republic, Estonia, Georgia, India, Indonesia, Israel, Kazakhstan, Korea, Latvia, Middle East, Poland, Romania, Russia, Slovakia, Turkey and Ukraine. Forbes, Forbes Asia and the company’s nineteen international licensee editions together reach a worldwide audience of more than 6 million readers. |
| In August 2006 the private equity firm Elevation Partners became a minority shareholder in a newly formed company, Forbes Media LLC. |
| FORBES COMPANY HISTORY |
| In 1917 Scottish immigrant Bertie Charles Forbes, known as B.C. Forbes, launched Forbes magazine, the biweekly business publication geared for top decision makers. Scottish immigrant B.C. Forbes came to New York in 1904, and got his first job by offering to work for nothing as a reporter for the Journal of Commerce. A dozen years later he had become a widely syndicated business columnist. In 1917, as an outlet for his outpourings that were too voluminous for his daily column and other magazine feature articles, he founded Forbes. |
| In 1946, following World War II, B.C.’s sons, Bruce and Malcolm Forbes, joined the company. Bruce headed advertising in Detroit, and Malcolm was assistant publisher. When B.C. died in 1954, Bruce became president and Malcolm the Editor in Chief and Publisher. |
| Besides Malcolm and Bruce, there were three other brothers: Duncan, who died in his teens, Gordon, who died in 1987, and Wallace, now President of Forbes Investors Advisory Institute. In 1964, Bruce Forbes died of cancer at the age of 48. Malcolm Forbes became the President and Editor-in-Chief and made Forbes a household name when it came to business, investing and lifestyle. |
| Malcolm Forbes died at the age of 70 in 1990. Forbes, Inc. was passed to his four sons and his daughter, Moira. |
| PUBLICATIONS |
| Forbes magazine was founded in 1917 by Scottish immigrant B. C. Forbes, who was the leading business columnist for the Hearst newspaper chain at that time. Published biweekly, every issue of Forbes contains more than 60 concise, original articles evaluating companies and the people who run them. Articles in Forbes cover a wide array of topics from the worlds of industry, finance, international business, marketing, law, taxes, science, technology, communications, investments and entrepreneurship. Steve Forbes is the magazine's Editor-in-Chief and contributes a column in each issue called "Fact and Comment." Randall Lane is Forbes' Editor, and Rich Karlgaard is Publisher. |
| The re-architected Forbes has a greater focus on reporting—investigative, immersive and involved—by journalists operating from the center of the stories they are telling. The magazine is more participatory—with significantly more first-hand accounts from story subjects and the Forbes community at large. |
| ForbesLife (launched in 1990 as Forbes FYI) is the dedicated luxury lifestyle and culture publication of Forbes. The magazine is mailed to Forbes subscribers bimonthly, and its issues include: The Fashion Issue; The Travel Issue; The Culture Issue; Style & Design; Great Escapes; and Handmade Luxury. Robert Forbes is President of ForbesLife, Richard Nalley is Editor, and Meredith Kopit Levien is ForbesLife Group Publisher. |
| Forbes Asia magazine was launched in September 2005, to expand and enhance the coverage of this very robust region. Forbes Asia is published in English on a biweekly schedule and has a circulation of 80,000. The publication is available across the Asia/Pacific region. William Adamopoulos serves as President and Publisher, and Tim Ferguson is Editor. |
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| Web Sites |
| Forbes.com, home page for the world’s business leaders and the leading business news source in the world, is among the most trusted resources for senior business executives, providing them the real-time reporting, uncompromising commentary, concise analysis, relevant tools and community they need to succeed at work, profit from investing and enjoy with the rewards of winning. The redesign during 2010 – 2011 of Forbes.com – includes new People, Places and Profile pages, as well as a new Home page, Channel, Section and Article pages – and the creation of the New Newsroom that fosters participation and interactivity between readers, content creators and marketers in real-time to meet the demands of an ever-evolving social media landscape. Forbes.com, the leading business site on the Web that reaches on average more than 25 million people monthly, delivers a user experience that is cleaner, simpler, more interactive and easier to navigate – and one that puts authoritative journalism at the center of a social media experience. Other Forbes Media Web sites are ForbesWoman.com, RealClearPolitics.com; RealClearMarkets.com; RealClearSports.com and RealClearWorld.com. Together with Forbes.com, these sites reach on average nearly 30 million business decision makers each month.
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| RealClearPolitics.com based in Chicago, was founded in 2000 and has become one of America's premier independent political web sites. RCP selects and publishes the best commentary, news, polling data, and links to important resources from all points of the political compass and covering all the important issues of the day. By tapping into thousands of weblogs and hundreds of newspapers and magazines across the political spectrum every day, RCP has become a trusted site for anyone interested in politics.
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| RealClearMarkets.com com is a one-stop shop for market-related news, analysis and commentary. RealClearMarkets collects and publishes content from across the ideological spectrum dealing with the major topics and discussions from the worlds of business, economics, finance, and political economy. From CNBC to Forbes, from the Wall Street Journal to Infectious Greed, RealClearMarkets allows you to peruse and dissect information from your favorite blogs, news channels, journals, think tanks, magazines, and online publications in a daily, easy-to-read format.
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| RealClearWorld.com is a catch-all source for global news and commentary. Everyday the RealClearWorld team finds and selects the best international news, opinions and analyses from English-language publications in over 50 countries and all six continents. In addition to providing links to the world's best commentary and analysis on the biggest global news, RealClearWorld also maintains tools for the international news junkie, including the best editorials around the world, a Research & Analysis collection featuring the latest published papers on global politics, a Video Log of each day's most engaging news events, and blog “The Compass.”.
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| RealClearSports.com is a comprehensive, accessible and trusted news source that compiles the most thoughtful sports reporting and commentary from across the digital media landscape and blogosphere. Visiting RealClearSports every day helps keep both consumers and the business community up to speed by providing a one-stop destination for the latest and most relevant sports news and commentary.
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| INTERNATIONAL LICENSEE EDITIONS |
| Forbes Africa will launch in October 2011 in partnership with the Africa Business News (ABN) Publishing. There will be an English-language distribution in South Africa, Nigeria and Kenya. |
| Forbes Argentina launched on October 10, 2011 in partnership with DRP, the Premium Magazine Division of “Grupo 23” (G23). Alex Milberg – who previously was the editor of Newsweek Argentina – is the editor of the magazine, a Spanish language edition distributed throughout Argentina. |
| Forbes Bulgaria was launched in March 2011, in partnership with Attica Media Bulgaria. It is a monthly magazine with 20,000 in circulation. Iordan Mateev serves as Editor. |
| Forbes China is published in partnership with Fosun Media, a member of the Fosun group, one of China’s largest private conglomerates. Forbes China is published monthly with a circulation of 158,000, and its editor is Zhou Jiangong. The first issue was published in March 2003. |
| Forbes Croatia launched in November 2008, in partnership with Europapress Holding in Croatia. Produced in Croatia with an independent editorial team, the magazine contains content based on Forbes’ U.S. edition, in addition to local Croatian business news and commentary. It had its initial print run of 24,000 distributed in major cities in Croatia. The Europress agreement includes plans to eventually publish the magazine in Serbia, Bosnia-Herzegovina and Montenegro, as well as Croatia. Its Editor is Viktor Vresnik. |
| Forbes Czech Republic was launched in Prague November 2011 in partnership with Business Consulting & Media. The content of the monthly edition will consist of 60% Czech business news, commentary and features, and 40% editorial from Forbes US. Petr Šimůnek, one of the most experienced economic journalists in the Czech Republic is the Editor-in-Chief of Forbes Czech Republic. |
| Forbes Estonia will launch in March 2012 in partnership with SK Publishing Group. It will have an initial circulation of 20,000. |
| Forbes Georgia launched in December 2011, in partnership with Media Partners Georgia which has more than ten years of industry experience in Caucasus and Central Asia. The magazine and the corresponding website will combine local business and other stories with content from its American and other international counterparts. Revaz Sakevarishvili will serve as the Editor-in-Chief. |
| Forbes India, the tenth international licensee edition of Forbes, launched May 21, 2009 in Mumbai, in partnership with Network 18, India’s leading media conglomerate. Published every two weeks, the magazine contains content from Forbes’ U.S. edition along with local business news and commentary from the Indian market. Its Editor is Indrajit Gupta. |
| Forbes Indonesia launched in the Fall of 2010. The magazine is published in partnership with media group PT Wahana Mediatama. The magazine is based in Jakarta, Indonesia. |
| Forbes Israel, the Hebrew-language edition, was launched in May 2004 with SBC Group. Distributed in Israel with a circulation of 25,000, the magazine's editorial content includes articles by local financial writers and analysts about the area business community. Also in the publication are Forbes' annual lists, along with regional surveys, including Israel's Best Big Companies and the ranking of the richest Israelis. Its Editor is Boaz Bin-Nun. |
| Forbes Kazakhstan, was launched in September 2011 in partnership with United Media Group (UMG). This edition is in the Russian language, with distribution of 10,000 copies throughout Kazakhstan. The editor-in-chief of Forbes Kazakhstan is Maxim Semelyak. |
| Forbes Korea was launched at the end of 2002 in affiliation with JoongAng Ilbo, a leading newspaper in Korea. The premiere issue was published in 2003 and its circulation is 52,000. The content is approximately 40 percent editorial from Forbes magazines, along with 60 percent Korean business news, commentary and lifestyle features. Its Editor is Kil-Joo Yoon. |
| Forbes Latvia was launched in May 2010 in partnership with SK Group, an international publishing group, in Latvia. The magazine is published monthly and has an initial circulation of 20,000. The launch was held in Riga. |
| Forbes Middle East was launched in October 2010 and is published in partnership with Arab Publisher House. The magazine is based in Dubai, and has an initial circulation of 25,000, increasing to 30,000 within six months. Forbes Middle East is published in Arabic and will eventually also be published in English and online as well. |
| Forbes Poland was launched in December 2004 in an agreement with Axel Springer Polska, a unit of German publishing company Axel Springer Verlag AG. Forbes Poland has a circulation of 42,000. It is modeled on Forbes' U.S. edition, but focuses on Polish economic issues and features sections such as Strategies, Lifestyle and Columnists. Kazimierz Krupa is its Editor. |
| Forbes Romania launched in March 2009 and is produced in partnership with the Adevarul Holding media group. With an initial circulation of 50,000, its content consists of 60 percent Romanian business news, commentary and features, and 40 percent editorial from Forbes’ U.S. edition. Its Editor is Adriana Halpert. |
| Forbes Russia was launched in April 2004 by agreement with publisher Axel Springer Russia. With a circulation of 100,000, it is distributed in Moscow, St. Petersburg and other major regional cities. It is produced in Russia by an independent editorial team, containing content based on Forbes' U.S. edition and local Russian business news and commentary. Its Editor is Maxim Kashulinsky. |
| Forbes Slovakia launched in November 2010 and is published in partnership with Business Consulting and Media in Slovakia. The initial circulation is 12,000. The content of the magazine consists of 60% Slovakian business news, commentary and features and 40% editorial from Forbes’ US edition. |
| Forbes Turkey was launched in October 2005, is published in cooperation with Turkuvaz Gazete Dergi Basim Anonim Sirketi, a division of Calik Holding A.S., in Turkey. Produced by an independent editorial team, the magazine has a circulation of 14,000 and is distributed in the country's major regional cities. Its Editor is Burcak Guven. |
| Forbes Ukraine launched in March of 2011. It is published through a licensing agreement with United Media Holdings (UMH). The magazine will be published monthly with a circulation of 30,000. Vladimir Fedorin services as Editor-in-Chief. |
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| OTHER DIVISIONS |
| Forbes Investors Advisory Institute (FIAI) is responsible for publishing the Forbes Special Situation Survey, the Forbes Growth Investor and the Forbes Stock Market Course. Forbes Special Situation Survey was first published in 1954. It comes out once a month and consists of a detailed research report on one publicly traded company. Forbes Growth Investor was founded in 2000 and is also published monthly. It maintains a recommended list of 50 stocks from eight major sectors. The Forbes Stock Market Course, first published in 1948, advises investors on how to build capital with stocks, bonds, mutual funds and other investment vehicles. Wallace Forbes is President of FIAI; Vahan Janjigian, CFA is editor of The Special Situation Survey and is one of the three editors of The Forbes/CFA Institute Investment Course; and Taesik Yoon, CFA, is editor of the Forbes Investor. |
| Forbes Newsletter Group (FNG) publishes and edits the following newsletters: Forbes Growth Investor, Forbes/Lehmann Income Securities Investor, Forbes ETF Advisor, Forbes/Wolfe Emerging Tech Report, Forbes/Slatin Real Estate Report, Forbes International Investment Report, Forbes Tax Advantage Investor, Forbes Wireless Stock Watch, and The Prudent Speculator. FNG also produces five weekly e-letters and maintains marketing, content and distribution relationships with more than 35 outside newsletters (www.newsletters.forbes.com). FNG is responsible for the investing content found on Forbes.com’s Personal Finance Channel (www.forbes.com/finance). FNG also holds several online-only Investor iConferences, which are interactive trade shows that connect its readers with the smartest minds in investing and personal finance. Matthew Schifrin is Vice President/Editor. |
| Forbes Travel Guides: Forbes and Mobil Travel Guide, formed a partnership in October 2009 re-branding the Mobil Travel Guide as the Forbes Travel Guide. In a partnership agreement the Mobil Five Star and Four Star ratings of hotels, restaurants and spas will continue utilizing the same standards that have been helping travelers make informed decisions since 1958. Forbes Travel Guide’s feature property destination in the United States and worldwide. |
| Forbes Television: In May 2001 Forbes launched the co-branded "Forbes on Fox" with Fox News Channel, to expand the company's media platforms. A rotation of Forbes editors and writers give their unique, contrarian perspectives on breaking business news and markets. The show is cablecast every Saturday morning. In 2007, Forbes began an ongoing production partnership for special programming in conjunction with E! Entertainment Television, which has resulted in 13 Forbes E! specials to date. In mid-2008, the company entered into a joint venture with the YES Network to produce regular sports business video segments. Anchored by Forbes National Editor Michael Ozanian, these consist of regular sports business updates during Yankee pre-game season programming, as well as a monthly half-hour show that premiered in January 2009. Forbes has also entered into a production partnership for programs with The Travel Channel, which premiered the initial show in December 2008. |
| The Forbes Collection is open to the public at various locations, including: The Forbes Galleries in New York City; The Forbes Galleries in Burlingame, California; and the Musée des Ballons, adjacent to Forbes' Château de Balleroy in Normandy, France. Other portions of the collection, not open to the public, are housed at Forbes operations around the world, including Old Battersea House in London, England, and on board the Forbes yacht, The Highlander. The NYC Galleries opened to the public in February 1985 with 8,000 square feet of exhibition space and were renovated in the summer of 2011 enlarging the space to showcase rotating exhibitions. |
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| Management |
After the death of founder B. C. Forbes in 1954, his son Bruce Forbes became President of Forbes; son Malcolm S. Forbes became Editor-in-Chief and Publisher, becoming President upon Bruce's death in 1964. After Malcolm Forbes' death in 1990, his eldest son, Steve, was given the titles of President and Chief Executive Officer of Forbes, and Editor-in-Chief of Forbes magazine. He was given the additional title of Chairman in 2008. Other officers of Forbes include his brothers, Timothy C. Forbes, President and Chief Operating Officer; Robert L. Forbes, Vice President; and Christopher Forbes, Vice Chairman.
In December 2010, Mike Perlis was appointed President and CEO of Forbes Media. He joined Forbes Media from Softbank Capital, a venture capital firm where he served as general partner.
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| Steve Forbes |
| Steve Forbes is Chairman and Editor-in-Chief of Forbes magazine. Under his leadership, the company has undergone unprecedented growth. Forbes became the country's leading business magazine in advertising pages, and its parent company launched a variety of new ventures, including Forbes Asia and Forbes.com. In both 1996 and 2000, Mr. Forbes took a leave of absence to campaign for the Republican nomination for the Presidency. He writes editorials for his "Fact and Comment" section in each issue of Forbes. |
| Robert L. Forbes |
| Robert Forbes is Vice President of Forbes and President of ForbesLife, which he launched in 1990 as Forbes FYI magazine. This is Forbes magazine's dedicated lifestyle supplement, devoted to the pursuit of civilized pleasure and fulfillment. Published bimonthly, it is designed for well-heeled business leaders who play as hard as they work. Mr. Forbes has authored numerous articles on food and travel, in addition to producing documentary films for Forbes. In September 2007, his book, Beastly Feasts! A Mischievous Menagerie in Rhyme (Overlook Press), was published.His new book of children’s poetry, Let’s Have a Bit! A Beastly Banquet in Rhyme, was published by Overlook Press in September 2010. |
| Christopher Forbes |
| Christopher "Kip" Forbes is Vice Chairman of Forbes. He has also had a lifelong interest in art and collecting. Initially collaborating with his father, the late Malcolm Forbes, he directed the restorations of the Château de Balleroy in Normandy, France, and Old Battersea House in London, England, whose art collections and antiques were the inspiration for The Forbes Collection™ of home furnishings. While studying art history at Princeton University, he worked as a Curator of The Forbes Magazine Collection. Mr. Forbes has written numerous books and catalogues about art and collecting, including, "Fabergé: The Forbes Collection," co-authored with Robyn Tromeur, published by Hugh Lauter Levin. |
| Timothy C. Forbes |
| Timothy Forbes is President and Chief Operating Officer of Forbes. Mr. Forbes joined the company in 1986 after negotiating the acquisition of the American Heritage division. He is involved in the strategic planning and business development of the company, and he serves as Chairman of Forbes.com. Prior to joining Forbes, Tim Forbes was an independent producer and screenwriter; his documentaries on historical subjects and current affairs have been broadcast nationally on PBS. |
| Mike Perlis |
| Mike Perlis is president and CEO of Forbes Media. He joined the company in December 2010. A seasoned media leader, with extensive experience in print and digital, he is charged with taking a great brand to greater, expanded success. Mike joined Forbes Media from SoftBank Capital, a venture capital firm focused on high growth internet based businesses, where he served as a General Partner. He focused on content businesses including, Beliefnet, Huffington Post, Associated Content, and Buzzfeed. Prior to joining Softbank, Mr. Perlis served as President and CEO of Ziff- Davis Publishing, President of TVSM and President of the Playboy Publishing Group where he oversaw all publishing and related product activity worldwide. He also was responsible for the launch of the Playboy new media initiative (playboy.com) and managed the company’s direct marketing businesses. Earlier in his career he was Chairman and CEO of IDG Peterborough, Publisher of Gentleman’s Quarterly and ran the Rodale Active Sports Network. He began his career in media as the co-founder of New England Publications in Camden, Maine. |
| Lewis D’Vorkin |
| Lewis D’Vorkin serves as Chief Product Officer, leading all editorial areas for Forbes and its related brands. In this role, Mr. D’Vorkin, a seasoned journalist and experienced business entrepreneur, creates and implements initiatives in the editorial products and the engagement of Forbes’s audiences. Familiar with the core values of Forbes, having served as Executive Editor of Forbes magazine from December 1996 to April 2000, since joining the company Mr. D’Vorkin has implemented powerful, exciting changes in editorial products, including overseeing the redesigns of Forbes.com and Forbes magazine. In April 2011 he was named a “Top Innovator in Business Publishing” by BtoB Media Business and was named to the 2011 Folio 40 list of distinguished magazine and media professionals as a “C-Level Visionary.” Prior to joining Forbes in June 2011, Mr. D’Vorkin founded and served as Chief Executive of True/Slant, an original web-based content news network. Previously he was Senior Vice President, Programming at AOL, where he was responsible for News, Sports and Network Programming and played a significant role in the launch of TMZ.com. Earlier in his career, Mr. D’Vorkin was Page One Editor of The Wall Street Journal, a Senior Editor at Newsweek, and an editor at The New York Times. |
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