The
rumors
of Business 2.0's potential demise may be true after all as both the
New
York Post and
New
York Times report that Time Inc. will send the magazine to the recycling
bin despite receiving a buyout offer. The October issue is expected to be the
technology business magazine's last issue. Its editor and nine other staffers
will be transferred to Time's other business magazine Fortune. Time reportedly
turned down a $5 million buyout offer from Mansueto Ventures, the owner of
rival title Fast Company, to buy the operation.
Interestingly, bloggers at BloggingStocks, Dealbreaker and elsewhere are
mourning the magazine's passing. While common wisdom would suggest blogs were
the leading cause of the publications death, The New York Times speculated in
July that the folding of Business 2.0's advertising department into Fortune's
led to a decline in ad pages putting the title's future in question.
—Matthew Wurtzel
See
story from The New York Post
See
story from The New York Times
See
post from BloggingStocks
See
earlier post from Dealscape
Tags: Time Inc.,
magazines,
media
Continue reading below
