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'Business 2.0' shuts down European editions

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New York--Just a month after it was purchased by the Time Inc. unit of AOL Time Warner Inc., new economy title Business 2.0 said late Monday that it was folding its editions in Germany, Italy and the U.K. The decision came on the same day that AOL Time Warner shareholders approved the $68 million purchase of the magazine from U.K.-based Future Network, which has been struggling financially and closed many of its U.S.-based magazine titles prior to the Business 2.0 sale. Business 2.0 follows rivals Red Herring and The Industry Standard in scaling back European operations amid a weakening advertising market.
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