Business 2.0 Folds
â€śIâ€™d be lying if I didnâ€™t admit to being heartbroken,â€ť Quittner told the Times. Time Inc. apparently turned down offers from Mansueto Venturesâ€”which publishes rival Fast Company magazineâ€”and other prospective suitors.
Last month, rumors circulated that the September issue of Business 2.0 would be its last. Time Inc. apparently decided to retain the staff an extra few weeks to put together the October issue. A passionate group of Business 2.0 readers even formed a group on social networking site Facebook to show support for the magazine. Late last month, Gawker Media Silicon Valley gossip site Valleywag reported that a magazine logo near the magazineâ€™s entrance had been altered to read: â€śFortune 2.0.â€ť
Human resources personnel and other Time Inc. executives are expected to visit the magazineâ€™s headquarters today to formally shut down the operation, the Times report says.