Business 2.0 slated to lose $10 million
Keith Kelly of the New York Post writes Friday that Business 2.0 magazine is slated to lose $10 million this year, and Time Inc. is still trying to sell it. One of the interested buyers is the owner of Inc. and Fast Company magazines.
Kelly wrote, “But while it had a worthy name, it couldn’t transform the magazine into a moneymaker.
“Its circulation is around 600,000 so it seems like the subscriber list, if nothing else, could generate some buyer interest. Interested parties have come from as far away as China and Mexico. Morningstar founder Joe Mansueto, who owns Fast Company and Inc., is said to be looking at the magazine, while Mexican-based Indigo Media is said to be interested in keeping Business 2.0 alive as an online ‘zine. But Time Inc., in a fight to stave off CondÃ© Nast’s Portfolio, certainly would not like to sell it to a rival that competes with Fortune.
“The magazine’s lists, such as the 50 dumbest business moves, have become staples and the publication does have a high renewal rate.”
Read more here.