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Germany's Springer sets sights on US Forbes Magazine

German publishing house Axel Springer has been reported to be keen on acquiring the Forbes Magazine from the US. Market pundits said the takeover would fit perfectly in Springer's online content offensive.

Germany's Axel Springer publisher voiced its interest in taking over Forbes, the Wall Street Journal Deutschland reported. It said the Berlin-based media group would come up with an offer later in January during a second round of bidding.

German market experts said such a takeover would dovetail nicely with Springer's current drive to move more of its business to the online world, creating more revenues and profit from non-free online journalistic content and ads.

"Forbes also has an important Internet portal which gets more clicks than, say, than Washington.post.com or businessinsider.com," said German market analyst Stefan Metzler.

Strong competition

German publisher Axel Springer in major sale

The Forbes family, which founded the company of the same name some 100 years ago, has been considering a sale since November of last year, hoping to secure between $400 million and $500 million (293 million to 366 million euros).

Among other things, Forbes has made a name for itself by publishing it annual rankings of the world's richest people.

But Springer is not the only one interested in Forbes. Among the contenders are Chinese financial investors Fosun International, Whale Global and Singapore-based Spice Global as well as private equity firm Oxley.

hg/hc (Reuters, dpa)

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