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Forbes to launch European title

Magazine owner Steve Forbes claims resurgent advertising market will support a new title

Forbes Media will launch a European title next year as it looks to expand in emerging markets in Western Europe, chairman and editor-in-chief of Forbes Media Steve Forbes told the Telegraph.

With a year-on-year advertising revenue jump of more than 20 per cent, Forbes Media was looking to cash in on the increased interest in business and entrepreneurs in Europe.

Forbes exuded confidence that "there is a recovery coming" as the automotive and financial services industries had started to pick up, which had been the primary reason for advertisers showing keen interest in Forbes Europe.

"Even though everyone is focused on Ireland, Greece, Portugal and Spain, there is a recovery coming. And this is precisely the right time to move in. We want it (Forbes Europe) to be entrepreneurial. This is the right time for a European magazine," the billionaire magazine owner told the Telegraph.

Forbes Europe will have its headquarters in either London or Paris and it will most likely be launched by 2011, Forbes said, adding that the group had no plans introduce paywalls on Forbes magazine's websites.