Should Forbes Be Valued as Online Business?

The owners of Forbes Media LLC are hoping to convince potential buyers it should be valued like a fast-growing digital media business, but people familiar with Forbes’ financial performance say that could prove a hard sell for a company that still has firm roots in a declining print advertising market.

Forbes Media, publisher of Forbes magazine and Forbes.com, generated slightly less than $20 million in earnings before interest, taxes, depreciation and amortization, or Ebitda, last year, people familiar with the company’s financial performance said. Forbes doesn’t disclose details of its financial performance; a spokeswoman says it is profitable and on track in 2013 for its best financial performance in six years.

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