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AOL Time Warner to buy Business 2.0

13-June-2001
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AOL Time Warner to buy Business 2.0

AOL Time Warner's Fortune Group agreed to acquire the assets of Business 2.0 from Imagine Media and fold them into eCompany Now. The acquisition will close in four to six weeks, pending regulatory and shareholder approvals.

Fortune Group acquired the Business 2.0 brand and trademark, as well as the magazine's online and conference activities. After the close, eCompany Now will assume the Business 2.0 name, starting with its August/September issue, which will be on newsstands from Aug. 13.

The new magazine will combine aspects from both publications, such as the marketing focus of Business 2.0 and eCompany Now's concentration of feature stories. The magazines' Web sites will also come together under the address www.business2.com.

The new magazine will have a paid rate base of 550,000, which would be higher than either eCompany Now and Business 2.0, which had a rate base of 375,000 and 350,000, respectively.

The new Business 2.0, now a bi-weekly, will become a monthly and will have the same trim size and paper as eCompany Now.

Launched three years ago, Business 2.0 was one of the most successful publishing start-ups of the dot-com boom years, but it suffered in the recent tech meltdown. Last year, it raked in a 183.3% increase in ad pages, but as the economy wound down in the first quarter, so did its ad revenue; ad pages declined 38.6% in the first quarter.

On Feb. 16, Imagine Media, which posted a 24% drop in ad pages during the first quarter, said it would shutter six U.S. magazines, lay off 350 people and investigate sale options for Business 2.0.

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