Founders of 'Fast Company' resign

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Boston--The two founders of Fast Company, the once high-flying business magazine focused on the new economy, resigned on Monday.

Alan M. Webber and William C. Taylor, two former Harvard Business Review editors, launched Fast Company in November 1995 and watched the monthly publication soar along with the rise in the Internet and technology markets.

In 2000, the magazine was purchased for $350 million by Gruner + Jahr USA, which is owned by German-based media giant Bertelsmann. But then the magazine’s fortunes fell with the tech bust. Ad pages were down 18% in 2002, following a 54% drop in 2001. However, ad pages have been on the upswing early this year.

--Matthew Schwartz

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