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Forbes Magazine Publisher Quits

June 2, 1998

NEW YORK (AP) _ The publisher of Forbes magazine is stepping down to start his own company and will be replaced by the editor of the business magazine’s technology publication.

Jeffrey Cunningham, 45, has been publisher of Forbes since 1993 and group publisher of its sister magazines since last September. He plans to start a company to create and acquire media businesses, with Forbes Inc. expected to be a minority partner, Forbes Inc. president and chief executive Steve Forbes announced today.

Rich Karlgaard, 43, will become publisher of Forbes, effective next month. Karlgaard has been editor of the technology magazine Forbes ASAP since its launch in December 1992. He was co-founder and editor of Upside, another technology publication, from 1989 to 1992.

Forbes’ sister publications, which also include Forbes FYI, Forbes Global Business & Finance and American Heritage, will no longer have a group publisher and will be led by current management, a company spokeswoman said.

Karlgaard’s replacement at Forbes ASAP is expected to be announced shortly.

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