It’s a bit disappointing that, given the popularity of Web 2.0 and everything related to technology, the folks over at Business 2.0 just couldn’t make things work. But, at the end of the day, the magazine simply couldn’t sell enough ads to pay the bills. As the New York Times points out, Time Inc. has decided to close the door on Business 2.0 and transfer a handful of remaining staff members over to FORTUNE magazine:
“Business 2.0, a monthly magazine about the new economy, will be shutndown rather than sold, its owners at Time Inc. have decided. Thenpublication, which has been suffering from a decline in advertisingnrevenue, will cease publication after its October issue, which willnhave a cover article on where to invest in a real estate downturn.
Accordingnto people familiar with Time Inc.’s handling of the matter, Time turnedndown offers from Mansueto Ventures, owners of the rival magazine FastnCompany, and other prospective buyers to acquire the Business 2.0 brandnand its circulation list of 600,000 subscribers.
Instead, TimenInc. will reassign the editor of Business 2.0, Joshua Quittner, andnnine other editorial staff members to Fortune magazine, where they willnhelp with Fortune’s technology coverage, conference business and Webnsite.”
The good news, I guess, is that each issue of FORTUNE magazine will now offer beefed-up coverage of the latest developments in the Web 2.0 world.