On July 20, 2014, Forbes Media announced that it sold a majority stake to a group of international investors, hoping thereby to accelerate the development of its global business. Details of the transaction were not disclosed. According to Reuters, the transaction amount was approximately $ 475 million, and the transaction is expected to be completed before the end of the year.
Internet has changed the media industry's business model dramatically. The emergence of the Internet made the old business model outdated. In the Internet era, everyone is content creator. Google and Facebook, as well as many other websites, earn huge advertising revenue each year. On the contrary, the revenue of print media is shrinking all the time. Besides a few exceptions that we do not know how long they can hold on, all contents are free.
For traditional media companies like Forbes, this situation is painful. Moreover, the destruction created by the Internet has just begun. Thankfully, the Forbes family have long realized that electronic publishing is not just moving the content from the paper to a computer screen. They also created a website to operate independently, and get a good market response.
Although the Internet is very disruptive that it destroys the old boundaries, it also opens up doors of opportunity for enterprises. For example, the transaction made by investors with Forbes Media will accelerate the expansion of the Forbes brand. The Forbes will quickly expand to develop the field of education, financial services, real estate and technology licensing and so on.
http://www.businessweek.com/debateroom/archives/2008/12/the_print_media_are_doomed.html
http://www.theguardian.com/media/2012/jun/03/who-says-print-is-dead
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