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'''Forbes Inc.''' is an American [[publishing]] company best known for its eponymous business magazine ''Forbes'' which is published bi-weekly. [[File:Forbes1.jpg|Thumb|190px|''Forbes Magazine'' Nov 2008]]
'''Forbes Inc.''' is an American [[publishing]] company best known for its eponymous business magazine ''Forbes'' which is published bi-weekly. It was founded in 1917 by B.C. Forbes and built up by long-time owner Malcolm Forbes (1917–1990), noted for his intense devotion to capitalism. It is now run by [[Steve Forbes]] (1947- ), who has been very active in conervative and Republican Party affairs..
The enetire magazine industry has been hit hard by the [[Recession of 2008]], as has the newspaper industry. The subscription base at ''Forbes'' is steady at 920,000 copies, but there have been more and more discount offers, and advertising is down 15% from early 2008 to early 2009.
[[File:Forbes1.jpg|Thumb|190px|''Forbes Magazine'' Nov 2008]]
The enetire magazine industry has been hit hard by the [[Recession of 2008]], as has the newspaper industry. The subscription base at ''Forbes'' is steady at 920,000 copies, but there have been more and more discount offers, and advertising is down 15% from early 2008 to early 2009. There have been layoffs and furloughs among the 1000 employees.
Ad pages have declined even more at the two major competitors; ''Forbes'' has a listed revenue of $338 million, compared to $276 million for ''Fortune'' and $236 million for ''BusinessWeek''.
The website Forbes.com is one of the top five financial sites by traffic, generating $70 million to $80 million a year in revenue.
In 2006, the Forbes family sold 40% of the company to Elevation Partners, a private equity firm, for $300 million, setting the value of the enterprise at $750 million. The value today is perhaps half that.
[[Category:Magazines]]
[[Category:Magazines]]
[[Category:Conservatism]]
[[Category:Conservatism]]