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Forbes Puts Investopedia Site Up For Sale; Maidment Resigns

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Three years after it bought financial education site Investopedia, Forbes Media has retained the Jordan, Edmiston Group, Inc. to help sell the property off. The announcement comes a few weeks after Forbes acquired freelance journalism site True/Slant. Forbes had been an investor in True/Slant and before the purchase, it had hired site’s founder, Lewis DVorkin, as consultant to help restructure its digital offerings. The sale of Investopedia would appear to be the first step in the struggling publisher’s latest digital reinvention.

SEE ALSO: Forbes Acquires Freelance Journalism Site TrueSlantForbes Media Acquires Canadian Site Investopedia.com

In other Forbes news, the company also announced that Paul Maidment, the magazine’s co-editor of Forbes and editor of the site, he will be leaving the company. In a memo, Maidment said, “I am ready to advance to the next phase of my life. This is the right moment to make the break and take the plunge. I am proud of what we achieved at Forbes.com.”

Even though Forbes is looking to jettison the Edmonton-based Investopedia, the company claims that the site’s profits and users have grown in the past three years since it was acquired.

The move was described part of a “larger strategy shift for Forbes Digital,” which also includes RealClearPolitics.com, RealClearMarkets.com, RealClearSports.com, and the Forbes.com Business and Finance Blog Network.

Jun 14, 2010 11:14 AM ET

Investopedia


Posted In: Media & Publishing, Magazines, Online News, Money, M&A & Venture Capital, Mergers & Acquisitions, forbes

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