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Report: AOL Time Warner on cusp of buying 'Business 2.0'

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New York--Following months of rumors about whether it would be sold or shuttered, Business 2.0 appears to have finally found a buyer. BusinessWeek Online reported Thursday that AOL Time Warner Inc. is negotiating to purchase the once high-flying Business 2.0, whose ad pages have been hammered by the tech slowdown. A deal could be reached as early as next week, according to BusinessWeek Online. The Web site also said Business 2.0 would most likely be merged with Fortune spinoff eCompany Now. Considering it's a buyer's market, Business 2.0 publisher Imagine Media Inc. is unlikely to get its asking price of around $50 million. Terry McDevitt, a spokesman for Time Inc.'s Fortune Group, had no comment when asked to confirm the story.
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