On October 16, Aravot.am published a press release, according to which the Armenian version of the famous business magazine Forbes would soon start to be published in Armenia. In a statement, signed by Forbes Armenia, it is mentioned that the latter was granted a license for publication. The representative of Forbes Armenia is “Media Partners” company which plans to have 12 issues of the magazine during the year and to launch the business portal www.forbes.am. The press release states that Gagik Yeghiazarian is the publisher and Editor-in-Chief of Forbes Armenia, and Shushan Harutyunian will act as the Editor-in-Chief of www.forbes.am. As the Forbes Armenia informed YPC, the first issue of the magazine was scheduled to come out in November 2013.
On December 15, 2006 Yerevan already witnessed the presentation of the first issue of the Armenian-language Forbes magazine (see YPC Weekly Newsletter, December 15-21, 2006). However, there was no follow-up issuance. At the end of December the magazine Editor-in-Chief Petros Ghazarian (Director of “Kentron” TV at that time, currently the author and anchor of a popular TV program “Urvagits” on the same channel) resigned, accounting his action for the excessively politicized response to the magazine. Early in January 2007 the press circulated rumors that the publishers of the Armenian Forbes made an illegal use of the title, having no agreement with the US owners of the brand. Elizabeth Petrosian, Director of “Faces” LLC (the founder and publisher of the Armenian Forbes), mentioned in a conversation with YPC that negotiations with the American party on a number of issues were underway and promised to invite a press conference shortly afterwards to clarify the situation (see YPC Weekly Newsletter, January 8-11, 2007). No clarifications followed; the question of probable piracy hung in the air and was forgotten over time.
Now, six years later, another attempt has been undertaken for the Forbes to enter the Armenian market, but the published information suggests that this attempt has been undertaken by other entities. The outcome of the second attempt will rather become known in November.