Time Inc. To Close High-Tech Magazine Business 2.0

Time, the news company, says it's closing down it's high-tech magazine Business 2.0 (two-point-oh).

Company officials say they're abandoning efforts to salvage the publication. The magazine survived the dot-com bust only to be doomed by the rise of Internet advertising.

Notice of the San Francisco-based magazine's death was only delivered today in a staff meeting. But the publication's troubles were widely known.

Like many other print periodicals, Business 2.0 has been hurt by a shift of advertising to the Internet as consumers spend more of their time surfing the Web and less time reading magazines and newspapers.

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