Just a couple of days after PaidContent ran a story about freelance news site True/Slant reportedly being in M&A talks, Forbes Media announced today that it has agreed “in principle” to buy the company.
True/Slant founder and CEO Lewis Dvorkin will be joining Forbes to lead all editorial areas at Forbes as Chief Product Officer effective June 1.
It isn’t much of a surprise for Forbes specifically to make that move. Dvorkin has after all been consulting with Forbes in April. Also, he was Executive Editor of the Forbes magazine from December 1996 to April 2000.
He was previously Page One Editor of The Wall Street Journal, a Senior Editor at Newsweek, and an editor at The New York Times. He’s also former Senior Vice President, Programming at AOL.
Furthermore, Forbes invested in True/Slant back in August 2008 together with Fuse Capital (the company raised a total of $3 million).
The terms of the acquisition have not been disclosed.
True/Slant is an original content news network tailored to both the â€œEntrepreneurial Journalistâ€ and marketers who want a more effective way to engage with digital audiences. Contributors, consumers and marketers each have a voice on True/Slant. True/Slant is the digital home for the â€œEntrepreneurial Journalist.â€ Knowledgeable and credible contributors anchor and build their digital brands on True/Slant using tools that enable them to easily create content and craft stories filtered through human perspective (not an algorithm).