AOL TINE WARNER ACQUIRES "BUSINESS 2.0"; MERGES TITLE W/"eCOMPANY NOW".
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 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. 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, Israel and South Korea.
Also, Upside 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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|Title Annotation:||AOL Time Warner Inc.|
|Comment:||AOL TINE WARNER ACQUIRES "BUSINESS 2.0"; MERGES TITLE W/"eCOMPANY NOW".(AOL Time Warner Inc.)|
|Article Type:||Brief Article|
|Date:||Jun 16, 2001|
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