AOL TINE WARNER ACQUIRES "BUSINESS 2.0"; MERGES TITLE W/"eCOMPANY NOW".AOL (A division of Time Warner, Inc., New York, NY, www.aol.com) The world's largest online information service with access to the Internet, e-mail, chat rooms and a variety of databases and services. Time Warner (New York New York, state, United States New York, Middle Atlantic state of the United States. It is bordered by Vermont, Massachusetts, Connecticut, and the Atlantic Ocean (E), New Jersey and Pennsylvania (S), Lakes Erie and Ontario and the Canadian province of ) has acquired Business 2.0 (San Francisco San Francisco (săn frănsĭs`kō), city (1990 pop. 723,959), coextensive with San Francisco co., W Calif., on the tip of a peninsula between the Pacific Ocean and San Francisco Bay, which are connected by the strait known as the Golden , CA) magazine from Imagine Media (Brisbane, CA) and parent The Future Network (London) for an estimated $68 million. Launched in 1998, Business 2.0 was published monthly with a rate base of 350,000. One of a group of "new economy" titles, the magazine's editorial focuses on three major topics: the networked economy; the globalization globalization Process by which the experience of everyday life, marked by the diffusion of commodities and ideas, is becoming standardized around the world. Factors that have contributed to globalization include increasingly sophisticated communications and transportation of business; and, the revolution in information technologies. It also includes information on government regulation, ecommerce, new products, Internet statistics, as well as interviews with industry executives. The magazine, like all of the category's titles, has been hit hard by the recent ad slowdown For articles with similar titles, see Slow Down (disambiguation). A slowdown is an industrial action in which employees perform their duties but seek to reduce productivity or efficiency in their performance of these duties. . May ad revenue for Business 2.0 fell nearly 50% compared to last year, while ad pages were down over 85%. Under terms of the deal, the acquired title will be merged with Fortune Inc.'s eCompany Now and will retain the Business 2.0 title. eCompany Now was launched as a monthly in late 1999 and has a rate base of 375,000. The new combined title, to be relaunched in September, will have a paid circulation rate base of 550,000. The bulk of Business 2.0's editorial staff will be laid off. Under terms of the deal, the two companies hav agreed to a five-year revenue-sharing arrangement beginning in January 2002, in which Future Network will receive 25% of all annual net revenue exceeding $50 million from the combined magazine. Future will also receive 25% of annual net revenue exceeding $10 million from any related Web sites and conferences. At about the same time as the sale, Imagine Media closed three foreign editions of Business 2.0, including titles in the U.K., Italy and Germany. Other divisions continue to operate in South Africa South Africa, Afrikaans Suid-Afrika, officially Republic of South Africa, republic (2005 est. pop. 44,344,000), 471,442 sq mi (1,221,037 sq km), S Africa. , Israel and South Korea. Also, Upside Upside The potential dollar amount by which the market or a stock could rise. Notes: This is basically an educated guess on how high a stock could go in the near future. See also: Bull, Downside Media (San Francisco, CA) founder David Bunnel has confirmed he is seeking a buyer for his company and Upside magazine. The company has hired Digial Coast Partners to explore options, including a sale. |
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