NewsGuild of New York Statement on sale of Fortune Magazine
Meredith Corporation announced today that it will sell Fortune to Fortune Media Group Holdings Limited, owned by Chatchaval Jiaravanon, for $150 million. Fortune has remained an iconic, international brand, trusted for its influential and critical business reporting and commentary. As Meredith notes, it’s the editorial employees that have created such a successful brand that reaches nearly 20 million people across the globe each month. Just as we agree with Mr. Jiaravanon that there is a demand for high-quality business journalism, we hope he will agree that such success starts and ends with his incoming employees. The union looks forward to working with Mr. Jiaravanon to ensure that Fortune supports and grows its editorial staff in order to make the publication the world's leading business brand.
Share this story