Elevation Takes Stake In Media Giant

Aug 11 2006 | 12:00am ET

For the first time in Forbes Inc. history, the Forbes family is parting with a considerable stake in its organization. Forbes has teamed up with private equity fund Elevation Partners to form Forbes Media, and Elevation will hold a substantial minority stake in the company.

The new company includes Forbes magazine, forbes.com, newsletters, conference businesses and radio and video operations, but not American Heritage or American Legacy magazines.

“The partnership with Elevation gives us the chance to move [faster] than we would have been able to otherwise, both in the United States and overseas,” explained Forbes President and former U.S. presidential candidate Steve Forbes to the magazine, to which he also serves as editor-in-chief. “We don’t want to give our competition a break by letting them realize what we realized 10 years ago, and that is, there’s a whole new wonderful world out there, based in print but with the Web and other delivery vehicles beckoning. We want to move before they wake up to what we saw.”

New York- and Menlo Park, Calif.-based Elevation is a $1.9 billion p.e. firm, but is perhaps best known for counting U2 front man and human rights activist Bono as a founding partner. 

 


In Depth

Fundraising for Mid-Sized PE Funds: Should You Use a Registered B/D?

Dec 6 2016 | 7:18pm ET

When does a fund sponsor need to use a registered broker/dealer when raising capital...

Lifestyle

Trump Attends 'Villains and Heroes' Costume Party Dressed As...Himself

Dec 5 2016 | 11:16pm ET

U.S. President-elect Donald Trump attended a "Villains and Heroes" costume party...

Guest Contributor

Nowhere to Hide: Why the Future of Asset Management Depends on Innovation

Nov 15 2016 | 6:55pm ET

Information technology has reshaped the asset management industry’s periphery,...

 

From the current issue of

Since the inception of Modern Trader, a core editorial theme has centered on the wisdom and power of crowds. Editorial emphasis has focused on companies and projects engaged in the collection and analysis of information. 

AVAILABLE NOW at BARNES & NOBLE

NEWSTAND LOCATOR