Time Inc. is closing high-tech magazine Business 2.0, abandoning efforts to salvage a publication that survived the dot-com bust only to be doomed by the rise of Internet advertising; the publication will release a final issue this month. Although the San Francisco-based magazine's death notice wasn't delivered until Wednesday in a staff meeting, Business 2.0's troubles were widely known. The magazine's total advertising pages plunged 34 percent during the first six months of this year, according to statistics compiled by the Publishers Information Bureau. Like many other print periodicals, Business 2.0 has been hurt by a shift of advertising to the Internet as consumers spend more of their time surfing the Web and less reading magazines and newspapers.
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