- Fortune (magazine)
title = Fortune
image_size = 200px
image_caption = The April 30, 2007 issue of "Fortune", featuring its
editor = Andy Serwer
editor_title = Managing Editor
frequency = Bi-Weekly
circulation = ~850,000
Time, Inc., a Time Warnercompany.
firstdate = 1930
country = Flag|United States
language = English
website = [http://www.fortune.com www.fortune.com]
issn = 0015-8259
"Fortune" is a
global business magazinepublished by Time Inc.'s Fortune|Money Group. Founded by Henry Lucein 1930, the publishing business, consisting of "Time", "Life", "Fortune", and " Sports Illustrated", grew to become Time Warner, the world's largest media conglomerate, before it was acquired by AOLin 2000. [ [http://www.media-alliance.org/article.php?story=20040514113031555 AOL Eats Time Warner] ] "Fortune's" primary competitors in the national business magazine category are Forbes, which is also published bi-weekly, and BusinessWeek. The magazine is especially known for its annual features ranking companies by revenue. CNNMoney.comis the online home of "Fortune", in addition to "Money" and " Fortune Small Business".
History and organization
"Fortune" was founded by "Time" co-founder Henry Luce in February 1930, four months after the
Wall Street Crash of 1929that marked the outset of the Great Depression. Briton Hadden, Luce's partner, wasn't enthusiastic about the idea, but Luce went forward with it after Hadden's October 15, 1929death (of streptococcus). [Henry Luce & His Time by Joseph Epstein, "Commentary", Vol. 44, No. 5, November 1967]
Luce wrote a memo to the Time, Inc. board in November 1929, "We will not be over-optimistic. We will recognize that this business slump may last as long as an entire year." [http://money.cnn.com/magazines/fortune/fortune_archive/2005/09/19/8272901/index.htm How the world works] ]
Single copies of that first issue cost $1 at a time when the Sunday
New York Timeswas only 5c. At a time when business publications were little more than numbers and statistics printed in black and white, "Fortune" was an oversized 11"x14", using creamy heavy paper, and art on a cover printed by a special process. [http://xroads.virginia.edu/~1930s/Print/fortune/background.html Background] ] "Fortune" was also noted for its photography, featuring the work of Margaret Bourke-Whiteand others. Walker Evansserved as its photography editor from 1945-1965.
An urban legend says that art director
T M Clellandmocked up the cover of the first issue with the $1 price because nobody had yet decided how much to charge; the magazine was printed before anyone realized it, and when people saw it for sale, they thought that the magazine must really have worthwhile content. In fact, there were 30,000 subscribers who'd already signed up to receive that initial 184-page issue. By 1937, the number of subscribers had grown to 460,000.]
Great Depression, "Fortune" developed a reputation for its social conscience, for Walker Evansand Margaret Bourke-White's color photographs, and for a team of writers including James Agee, Archibald MacLeish, John Kenneth Galbraith, and Alfred Kazin, hired specifically for their writing abilities.
"Fortune" became an important leg of Luce's Time/Life media empire, which has grown to become
Time Warner. For many years "Fortune" was published as a monthly, but as of September 2005, it is published biweekly. It considers its purview the entire field of business, including the people, trends, companies, and ideas that characterize modern business.
While circulation of the business magazines sector has apparently slumped since 2000. [ [http://www.stateofthenewsmedia.org/narrative_magazines_audience.asp?cat=3&media=7 Magazine audience] ] , "Fortune" claims their circulation has risen from 833,000 [ [http://www.magazine.org/circulation/circulation_trends_and_magazine_handbook/1603.cfm Circulation trends] ] to 857,000 [ [http://www.timeinc.net/fortune/mediakit/circulation.html "Fortune" media kit] ] in that period.
A theme of "Fortune" is its regular publishing of researched and ranked lists. In the
human resourcesfield, for example, their [http://money.cnn.com/magazines/fortune/bestcompanies/ Best Companies to Work For] list is an industry benchmark. Its most famous lists rank companies by gross revenueand profile their businesses:
Fortune Global 500
Fortune 100 Best Companies To Work For
Fortune America's Most Admired Companies
*Fortune Global Most Admired Company
In August 2006,
CNNmoney.com published a [http://money.cnn.com/magazines/fortune/fortune_archive/2006/07/24/8381730/index.htm feature] from "Fortune" magazine which recommended books and websites focused on the world's top five companies, as ranked in the "Fortune Global 500". In a novel twist, each company website was featured alongside a website taking a critical view of the company's activities. For example, the recommended websites for Royal Dutch Shell, listed as number 3 in the rankings, was Shell's own portal website along with royaldutchshellplc.comwhich focuses on alleged negative aspects of the oil giant. The unstated but logical purpose of the recommendations was to allow the public, investors and shareholders to arrive at a balanced view of each company, taking into account the positive and negative information available from the recommended websites.
"Fortune" on CNNMoney.com
Fortune Global 500
Fortune Battle of the Corporate Bands
* [http://money.cnn.com/magazines/fortune/ "CNN about Fortune magazine" website]
* [http://www.timeinc.com/ Time Inc. website]
* [http://www.timewarner.com/ Time Warner website]
* [http://money.cnn.com/magazines/fortune/bestcompanies/2008/full_list/ List of 2008 100 Best Companies To Work For]
* [http://www.aggdata.com/business/fortune_500 Complete Downloadable List of Fortune 500/1000 Companies - 1955-2008]
* [http://www.exitocoastal.net/fortune.html "Fortune" Magazine covers since 2004]
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