Time Inc. is closing high-tech magazine Business 2.0, employees of the San Francisco-based publication were told at a staff meeting today, according to Brad Stone’s NY Times business blog. Rumors about the 2.0’s demise had been circulating for months as the magazine’s page count plunged. This morning’s New York Times reported that the October issue will be 2.0’s last. TimeWarner bought the magazine in 2001 for a reported price of $68 million. Time Inc. will reassign the editor of Business 2.0, Joshua Quittner, and nine other editorial staff members to Fortune magazine, where they will help with Fortune’s technology coverage, conference business and Web site, the NY Times reported.

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