News from:http://economictimes.indiatimes.com/news/international-business/forbes-media-to-explore-a-sale-of-the-company-says-ceo-mike-perlis/articleshow/25839706.cms, http://www.businessinsider.com/forbes-is-reportedly-exploring-sale-of-magazine-2013-11

Forbes Media CEO Mike Perlis said in a memo earlier this Friday, that “We’re organizing  a process to test the waters regarding a sale of Forbes Media. We have hired Deutsche Bank to represent us, and we expect interest from numerous suitors.” He also stated that Forbes Media hired the bank after receiving “serious” overtures to buy the company around $400 million to $500 million.

Forbes Media is well-knows for its annual rankings of the richest people in the world. according to data compiled by the Alliance of Audited Media(http://abcas3.auditedmedia.com/ecirc/magtitlesearch.asp), Forbes’ magazine had an average circulation of 932,884. It holds a special vision of the American economy and influences a large number of people. It also develops its own magazine style.

However, the appearance of Internet have changed people’s life greatly. Nowadays, people prefer using cell phones and computers to read news, e-books and e-magazine, so less and less people are willing to buy paper magazines. The status of all the paper industry including Forbes Media is threatened. As a result, every company has to find a way out, like selling the company and get more money to innovate.