For now, Steve Forbes will keep his titles at Forbes: Chairman and Editor-in-Chief. But, essentially Forbes will morph into a whole different entity than it had been. For almost a century it had been a symbol of American capitalism.
As Keith J. Kelly reports in the New York Post:
"Forbes Media is selling a majority stake to a group of Asian investors known as Integrated Whale Media." Here is the NYP coverage.
Some of us recall the old saying: From rags back to rags in three generations. Forbes was founded by Steve's grandfather in 1917. Then it was run by Steve's father. Now it has slipped away from the family.