Business 2.0 Might be Shut Down

The New York Times is reporting today that Business 2.0 might be shut down by Time Inc. I think this is somewhat of a shame. I remember reading Business 2.0 at the height of the last tech bubble in 1999 and initially really enjoyed its mix of tech adulation and lengthy articles.

After awhile I must admit that I found the articles and its fawning over technology "stars" a bit repetitive and over-the-top. But lately, I've returned to the magazine's online edition.

Articles about the bottled water industry in this country, the Burning Man festival, arbitraging Yahoo, and others make for some interesting reading.

According to the Times article, Business 2.0 is suffering from parental neglect; the business is still fundamentally healthy. The sales staff of Time's business magazines have been consolidated (Fortune, Money, CNN Money) and they have focused more on selling ads for the better known brands. So while circulation of the magazine has remained steady at 623,000 its advertising revenue has dropped by 38%. This during a resurgence of the Web and the Web 2.0 economy.

Usually, when there is an underperforming asset like this, it is saved or purchased. There is speculation that Josh Quittner the former editor the magazine is trying to line up venture capital funding to save it. My best is that the magazine isn't going away, although it may become online only.