It's official. Business 2.0 joins the dodos and dinosaurs, with all but a core staff of 10 getting 1-year-salary severance agreements (so Peter Kafka's sources say). The lucky 10 will reportedly augment Fortune's Valley coverage--assuming they want to.
The
good news (for magazine folks) is that B 2.0's problems appear
to have been at least partly management-related. NYT reports that Time Inc. consolidated sales
for its finance-business magazines earlier this year, and the sales
force reportedly ignored B 2.0 to focus on the sexier Fortune. The circ was reportedly stable, just north of 600,000.
But, in any event, B 2.0 ad revenue collapsed, dropping 38% year over year, despite a red-hot business market, stock market, and advertising market.
Forbes' Brian Caulfield has more on the larger story here: Despite the economic boom, the ad dollars are going to bloggers and Google, not Red Herring, B 2.0, et al. It's not just the wasted paper, ink, and postage--it's the time delay. By the time the magazine arrives, everyone's already read the story online (or ignored it, if the magazine is trying to "protect it's business" by maintaining a firewall). Expect more B 2.0-type announcements to come. Forbes
also right when rup is poised to take over WSJ---- and do we have a WSJ-TV coming? i think so
Posted by: Fantasy Futures Exchange | July 17, 2007 at 12:48 PM
WSJ already has regular video on its website, it's very high quality, and I wouldn't mind seeing a WSJ TV. It would probably be like a PBS, with a finance focus.
Posted by: Bjorn Tipling | July 17, 2007 at 03:23 PM
I hope the Dow Jones-Murdock deal goes through. Murdock knows entertainment, and current business television is so drab it's ridiculous. Cramer will at least keep you awake and is no talking head.
Posted by: CashForFlow | July 17, 2007 at 04:47 PM
No goog earnings bet this quarter?
Posted by: j | July 18, 2007 at 01:35 AM
Couldn't happen to a nicer publication. The few times I've dealt with their reporters, I've found them to be both incompetent and arrogant. Good riddance, may their reporters end up rewriting wire copy.
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