Why did a cryptocurrency exchange invest

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Why did a cryptocurrency exchange invest $200 million in Forbes? binance and forbes Binance , one of the largest exchanges in the world, will acquire a USD 200 million stake in Forbes, one of the best-known American business, economics and technology magazines. The deal is expected to close by the end of March this year, making Binance one of the two largest owners of the magazine. This move by Binance is in line with a trend of large brands that are acquiring publishers or investing internally in the diversification of the content produced, such as news and podcasts. It is called brand publishing.

Of course, this generates controversy, since the separation between Telegram Number Data Church and State, publishers and advertising agencies, has always been a bastion of journalism in large vehicles. Fortune, another major US business magazine, for example, was acquired in 2018 by a non-media businessman. Sports Illustrated, another gold title in the US market, was sold in 2019 to a company that owns the Elvis Presley and Marilyn Monroe brands. In both cases, the movement is similar: with circulations falling for years and prestige in decline ( the same happened with Newsweek ), the brand of these publications remains of great value to the public, although the business is far from being as profitable as before .




In the case of Sports Illustrated, for example, new owner Authentic Brands Group said it would like to use the brand to promote events and betting businesses . What will happen to Forbes? There are doubts. The Nieman Lab, one of the most prestigious journalism analysis sites in the world, sets the tone for the decline in quality at Forbes in recent years. To reduce costs, one of the most recognized publications on the market began to open space for external collaborators, paying little. This practice also attracted scammers who wanted to promote themselves, as the site highlights .