New York--Just a little more than a month after it bought the magazine for $68 million, Time Inc. on Tuesday introduced the new version of Business 2.0.
Although the relaunch comes during one of the worst advertising markets in memory, members of the new regime talked about how the latest incarnation is more in tune than the original Business 2.0
with how business and technology trends are evolving."It's going to be liberating not to have to think of stories within the context of the Internet," said Ned Desmond, editor and president of Business 2.0.
"The magazine will be in the context of a whole lot of other things. It'll be decidedly consumer, but that doesn't mean other folks aren't going to want to read it." The revamped Business 2.0
combines elements of the original publication and Time Inc.'s consumer-focused eCompany Now,
which is now defunct. Initial circulation of the new version of Business 2.0
is 550,000, all fully paid. There will be considerable cross-marketing efforts throughout the entire AOL Time Warner Inc. empire, but in particular with CNNfn, which in the fall is relaunching as CNN Money. "It's a better name [than eCompany Now
] and much more entrenched in the marketplace," said John Huey, editorial director of Time Inc. "We've gained about 25% muscle mass and lost 50% fat" in sticking with the Business 2.0
name. "The title will be better off solely than the two titles would have done on their own."In the first half of the year, ad pages for Business 2.0
fell 60% compared with the same period last year, according to the Publishers Information Bureau. Chris Poleway, president of Time Inc.'s Fortune Group, of which Business 2.0
is now part along with Fortune
and Fortune Small Business,
said the relaunched magazine "offers marketers a much broader reach and deeper audience to get their messages across." He said The Fortune Group is offering "combo" buys among its three titles for advertisers, and that Oracle Corp. and Sony Corp. had already signed on for ad space in Business 2.0
Lisa Bentley, publisher of Business 2.0,
said several new advertisers would be added to the marketing mix in the months ahead, but she declined to elaborate.