Imagine Media to Sell Business 2.0 to AOL
May 24, 2001, 12:00 AM
The Net marketing frenzy that plumped up New Economy publications, such as Business 2.0, The Industry Standard, Red Herring, and Upside into meaty tomes, has fizzled in the past year. Now, much like the market they cover, it's time for a shake out. The first in line appears to be Business 2.0. The 2-year-old magazine's publisher Imagine Media is negotiating to sell the publication to AOL Time Warner, according to three sources close to the proposed deal. The acquisition could be inked as early as next week, BusinessWeek Online has learned, but it's unlikely AOL will meet Imagine's asking price in the neighborhood of 50 million, say the sources.