Today, we announced that we have reached an agreement to sell a majority interest in Forbes Media to a group of international investors. This is obviously a momentous occasion for the Forbes family and the team here at Forbes. But, it represents an opportunity for extraordinary advances for us that would have been inconceivable just a few short years ago.
The web has blasted away the operating model for the communications industry that began back in the 1830s with the invention of the steam press, an innovation that made possible the cheap printing of newspapers and magazines on an industrial scale. Mass media was born. This new industry was largely supported by advertising; for most publications Forbes has been a happy exception circulation was a loss leader, that is, the cost of obtaining the subscription exceeded what the subscriber paid. Reporters and editors created content and advertising paid the bills.
Dispatches From The Front 