Irony can burn

After a number of efforts to keep it going, Time Inc. has decided to pull the plug on Business 2.0.

The magazine is one of the last biz/tech publications left over from the dotcom era, and has suffered from an advertising decline since its acquisition for US$ 68 million in 2001, according to Reuters.

Before the clock began ticking for its demise, the magazine's ad sales department passed the 100-page milestone for a single issue in 2004, driving Editor Josh Quittner to shave his head as a minor PR stunt.

Possible buyers for Business 2.0 include Mansueto Ventures, which owns competitor Fast Company. Time has not yet reached an agreement with Mansueto or any other suitors.

Ten employees, including Quittner, will join Fortune Magazine to boost tech coverage. Business 2.0 was already consolidated onto CNN Money, among other Time publications, in 2005.