Business 2.0’s Facebook Group Reacts to Magazine’s Death
When rumors swirled in July that Time Inc.’s struggling Business 2.0 was on put on the publishing equivalent of life support, subscribers on Facebook sprang into action, forming a “I read Business 2.0 – and I want to keep reading!” group on the social networking site. In two days, the group had 700 members. In two weeks, the group had over 2,000 members, including Web 2.0 luminaries like Craiglist’s Craig Newmark — and Business 2.0’s editor Josh Quittner. It currently has 2,339 members.
But all of that cyber-sweat came crashing down earlier this week, when Time Inc. announced it would fold Business 2.0 into Fortune rather than sell to rival Fast Company owner Joe Mansueto. Here’s a sampling of the Facebook group’s reaction:
Given what a general mess Time Warner/AOL is, I’m not surprised they’re letting a good title die. This is no way to reassure investors or readers.
What a bummer. So where are we going for our content after October? I see people are being moved to Fortune magazine, but I hardly think that’s where I’m going to find quality content a la business 2.0.
That’s what they get for naming Jason Calacanis as one of the 50 most important people.
I think a mix of Wired and Fast Company will have to do for now.
In a post entitled “Why this Facebook group failed,” Alex Hammer, owner of Media 2.0, said he tried to “put together a group to purchase this fine publication.”
Unfortunately, being frank, it was more interested in updating the number of members in this Facebook group than bringing together the key industry figures in the group to rescue the magazine. I realize that Time nixed offers, perhaps for competitive reasons, but the financers, insiders and industry heavyweights to pull together to make this publication survive – perhaps online are right in this group (as well as outside). 600,000 subscribers thrown away. That’s not chump change.
Colin Carmichael, the group’s founder, wrote: “Well folks, it’s been an interesting couple months watching this all unfold. I think we can claim responsibility for the October issue and the extra time for folks at B2 to figure out plan B, so not all was in vain.”