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Based in New York, Forbes Media is the parent company of Forbes, a privately held publishing and new media company. Its flagship publication is Forbes, one of the leading business magazines, with a North American circulation of more than 900,000. The magazine is also one of the nation's oldest major business magazines, celebrating its 90th Anniversary in 2007. The Forbes company was founded by journalist B.C. Forbes in 1917 and is now run his grandson, Steve Forbes, who made an unsuccessful self-funded run at the Republican presidential nomination in 1996 and 2000. Forbes, Forbes Asia, and the company's eight local-language editions, together reach a worldwide audience of over five million readers. The company also publishes ForbesLife, the lifestyle bi-monthly. Forbes Media s other divisions include Forbes.com, Forbes Conference Group, Forbes Custom Media and the American Heritage website.