Business 2.0 closes after 2-for-1 pitch last month

Deep into 2007, fallout continues from the dot.com era as the October issue of Business 2.0, a Time Inc. monthly magazine, will be its final one.  Its San Francisco offices will be closed next week and some of the key staffers will be assigned to Fortune magazine.

Ironically, Grumpy Editor notes a big two-for-one mailout a month ago sought to drum up renewals to Business 2.0, which described itself as “the playbook for a new generation of leaders.”  A “one-time-only opportunity” pitch dangled two years (22 issues) for a low $9.99.

Perhaps the pitch was designed as a “backdoor” circulation boost for Fortune magazine which is most likely to inherit the 600,000 Business 2.0 subscribers.  Fortune is in the same Time family.

Business 2.0 has been the subject of rumors for several months.  Purchased six years ago for about $68 million, the magazine’s downfall was attributed to a decline in advertising revenue.

Parent Time decided to shut it down rather than sell it, even when an offer was made from Mansueto Ventures, owner of rival magazine, Fast Company.

The final issue’s cover will spotlight an article on where to invest in a real estate downturn.