Mark Glaser of PBS’ MediaShift writes Wednesday that the decision by Time Inc. to close Business 2.0 magazine was due to woes brought on the business glossy by its parent.
“But for Business 2.0, the Time Inc. strategy was the kiss of death. The magazine lost its dedicated sales force, and Fortune salespeople were less interested in selling Business 2.0 than Fortune. Worse yet, the people who could have made the new strategy succeed — the magazine publishers atop each publication — were demoted to regional sales staff positions, demoralizing them, according to one former longtime Business 2.0 staffer. (The former employee would only speak to me without attribution because of the sensitivity of the subject.)
“‘They took all these people who were publishers, which is as high as you can get without going to corporate,’ the source said. ‘They took all these people and basically bumped them down to fancy regional sales managers. The very people who would have implemented the plan and made it successful had just been demoted…The salespeople were told, ‘You’re going to sell Fortune and Money and Business 2.0 and Fortune Small Business, and do package deals with CNNMoney.com.’ Which is a good idea in theory, but in practice it didn’t work out.'”
Read more here.
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