Some more piece sof information and conjecture, after Forbes’ sale of a significant minority stake sale to Elevantion Partners.
First, AdAge does a story speculating on what the exit for Elevation might be: the general consensus: a first step to an IPO or a sale. Roger McNamee, an Elevation Partner who was instrumental in the deal said that they’re in it for long term. “We have a really long horizon,” he said of its investments—more like five to seven years—and in the case of Forbes, maybe 10.
Investment bankers said the most likely future will see Elevation sell its stake to another buyer. Forbes hasn’t said whether it has veto power over potential successors to Elevation. Another is that Forbes.com is spun off, as previously mooted, and then it does an IPO.
In another story, SiliconBeat reports that Elevation Partners had considered buying the Mercury News from Knight-Ridder, to turn it into a “tech central” of news. KR did not want to sell piecemeal and ultimately sold it to McClatchy, as we all know.
Related:
—More on Forbes Stake Sale
—Forbes Sells “Significant Minority Stake” To Elevation Partners; Could Be Up To 40% For $250M-300M