Forbes is likely to sell off its publisher of 96-year-old Forbes magazine over decline in advertising revenue.
Forbes Media LLC, run by former US presidential candidate Steve Forbes, is exploring selling after receiving interest from potential buyers.
According to Newsmax, Forbes.com is working with Deutsche Bank AG on the sale, seeking at least 400 million dollars.
The report said that magazine publishers are selling storied brands as they struggle with declines in advertising revenue and circulation amid competition from the Internet.
Recently, the 80-year-old publication, Newsweek, was sold to IBT Media, and McGraw-Hill Cos. sold Businessweek, which was founded in 1929, to Bloomberg LP in 2009, among others.
