Reports said Time Inc. turned down offers from Mansueto Ventures, which owns Inc. and Fast Company, to acquire the Business 2.0 brand and its circulation list of 600,000 subscribers and opted to fold the title altogether.
Business 2.0 launched in 1998 and was initially published by U.K.-based Future Network, which sold the magazine to Time Inc. in 2001 for a reported $68 million. One of the high-flying business books of the late 1990s, its ad page growth was regularly in the double digits. But its fortunes fell when the Internet market bottomed out earlier this decade and ad pages started to plummet.
Through the first half of this year, Business 2.0â€™s ad revenue dropped 30.1% and its ad pages fell 34.1%, compared with the year-earlier period, according to the Publishers Information Bureau.