• New York Post, Thursday, September 6, 2007 11 AM

Joe Mansueto, founder of Morningstar, could not come to terms on a deal to purchase Business 2.0 from Time Inc., so the mag's shutdown is expected shortly. Mansueto was the only one interested in the book, but a deal deadline has come and gone. According to insiders, he was offering about $5 million, not enough for Time Inc., which is still interested in hanging on to some of the pub's Web archives.

"It's true we had taken a look at it, but ultimately we could not come to terms that were acceptable to all," says John Koten, CEO of Mansueto Ventures, which publishes the magazines Inc. and Fast Company. Time Inc. has lost over $110 million on the title since its founding in 1999. It was kept alive in a sea of red ink for years, since it was the brainchild of Time Inc. Editor-in-Chief John Huey, who started it when he was still running Fortune, which has posted double-digit ad declines.

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