Business 2.0 Shuts Down

0905business.jpgIn a move that will surprise absolutely noone, Time Inc. announced that they are shutting down Business 2.0. The mag’s been suffering from a steep drop in advertising revenue and, despite a passionate defense, Time Inc. just doesn’t have much heart for it anymore. EIC Joshua Quittner and nine other editorial staff members are being moved to Fortune and a formal announcement will be made today from the mag’s San Francisco headquarters. Time Inc. has owned the company since 2001; all indications are that they will not resell the brand.