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The move follows the decision by the Graham family earlier this year to sell the Washington Post to Amazon. Magazines have also been struggling, with Newsweek recently closing its print edition and Time Warner preparing to spin off its Time Inc unit, which includes Time Magazine, Sports Illustrated and People next year.

In , Steve Forbes and his brother Tim Forbes stepped down on the business side to make way for Perlis to become CEO and the first-ever outside executive to run the company. Steve Forbes remained editor in chief and chairman of the company and still writes a column. It unveiled a new model focused on contributors, featuring more opinion pieces alongside news that gave prominence to non-journalists. Like many magazines, it has also built up a conference business.

Instead, the company will sell a majority stake to a group of investors lead by a group in Hong Kong. Current investor Elevation Partners will no longer hold a stake after the transaction, the release said. The Forbes family will retain a significant ownership stake, will stay actively involved in Forbes Media and will work with the investor group to further increase market share of the existing Forbes Media product lines in media, digital, technology, as well as brand extensions.

Upon closing, Elevation Partners will fully exit its investment in Forbes Media. The terms of the transaction were not disclosed. IAM, which was founded by Tak Cheung Yam, is a Hong Kong-based investment company primarily engaged in public and private equity investments, with expertise in telecommunications, finance and technology.

He is based in Singapore. In partnership with IWM, Forbes Media will build on the wide and rapidly expanding appeal of the Forbes brand that today reaches approximately 75 million people worldwide with its business message through print, digital, TV, conferences, research, social and mobile each month.

Forbes Media is profitable and, in , achieved its best financial performance in the last six years. Forbes Media LLC will retain its operating name and will remain a privately-held, independent company headquartered in the U.

The best evidence of their commitment to what we stand for is their insistence on the continued involvement of the Forbes family, the current management and our highly talented editorial team. I will remain deeply involved in the future of the company.

Forbes Media is built around a brand that is synonymous with success and a mission that has tremendous respect and global appeal in established and growing markets around the world.

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Now you can sit in while Steve Forbes speaks with some of the smartest and biggest investors. Our groundbreaking new section Intelligent Investing uses the power of the web to give you access to the savviest minds in business and finance and distills their astuteness with a distinctly Forbesian perspective.

Nowhere else will you find such calm wisdom that cuts through the shouting, noise, fear and uncertainty you see in business today. At Intelligent Investing's heart is Steve's exclusive weekly video interview with one of investing's biggest names. We promise lots more stars to come: real estate investor R.

Donahue Peebles is next up. Conversations among prominent experts on the markets and the economy complement the show daily. Here are his investing tips. Volcker's Iron Fist Despite having his prop trading rule watered down, Paul Volcker's insistent that banks will obey. Navigating The Auto Industry Jul 12, Bill Ford gives his views on Ford's future and the mindset shift from cars and trucks to mobility.

Bankers Crafting Financial Reform Three top bankers give their advice on what the financial reform bill should include. Mark Cuban's Media Outlook The billionaire entrepreneur offers plans to get people to pay for content.

Cleaning Up Wall St. The Delaware senator wants a level playing field in the markets. Ron Paul wants to end the secrecy at the Federal Reserve. Buy Up Student Housing Slatin finds selective opportunities in real estate, such as student housing. Sell Stocks, Buy Treasuries Oct 26, Gary Shilling, who has predicted many of the bubbles of the last 30 years, sees a new stock bubble forming.

Buy Treasuries. Boone Pickens discusses an wheeler that runs on natural gas and his revised wind farm plans. The Nasdaq Adapts Jan 19, Nasdaq's chief executive tells Steve how his exchange weathered the crisis, where he's expanding operations, how he'll deal with upstart competitors and what went wrong with Nasdaq's bid for the London Stock Exchange.

The Wisdom of John Bogle Jan 12, The inventor of the retail index fund is among the most powerful advocates for the individual investor.