Forbes unveils plans to launch a European title next
He said that advertising revenues had improved, with the group seeing year-on-year increases of more than 20pc. The automotive and financial services industries had started to pick up, he said.
Forbes Europe will be based in London or Paris and it will probably launch in 2011. Mr Forbes said he had spoken to European advertisers and there had been a lot of interest in Forbes Europe.
“Even though everyone is focused on Ireland, Greece, Portugal and Spain, there is a recovery coming. And this is precisely the right time to move in. We want it [Forbes Europe] to be entrepreneurial. This is the right time for a European magazine,” he said.
The company currently publishes Forbes and Forbes Asia, which together reach a worldwide audience of more than 6m readers. There are also licensee editions in many countries from China to Croatia.
While the licensee editions are local language versions of Forbes, Forbes Europe’s content, like Forbes Asia, would be in English with original, local content.
In August 2006, Elevation Partners became a minority shareholder in a newly formed company, Forbes Media, the publisher of Forbes magazine, Forbes.com and other media properties.
Mr Forbes also offered his advice to the UK Government. “Don’t believe because you’re cutting spending you must raise taxes. Do what is right to get the economy moving and then people will forgive you for how you got there.
“What you have to do is combine tough measures with measures that will be conducive to encouraging growth,” he said.
“And if [George] Osborne and the Bank of England strengthen the pound, exporters will howl, but if people believe in the pound again then that would be good for the euro.”
He added that Britain should adopt a tax code similar to some Asian territories.
“Give Britain a tax code similar to Singapore’s or Hong Kong. You’d have very low rates and generous exemptions. You’d make Britain a haven of capital.
“You afford to do that because you are growing. Asset values go up if people see a future.”
He said he had sent David Cameron a copy of his book on the benefits of flat tax.
Mr Forbes said the group will not introduce paywalls on Forbes magazine’s websites.
Earlier this year, Mr Forbes relinquished his chief executive role at Forbes Media. Gentleman’s Quarterly publisher Mike Perlis was brought in as chief executive.
via Forbes unveils plans to launch a European title – Telegraph.
















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