Trying to Save A Magazine Through Facebook
Can the power of online social networking save a magazine from the history books? The fast growing membership of a Facebook group called "I read Business 2.0 - and I want to keep reading" is trying to send a message to parent company Time Inc., which is considering halting publication of the magazine in September. (Disclosure: I am a home subscriber of the magazine.)
The group was formed just about 48 hours ago and already has more than 450 members, many of whom are movers and shakers in the tech industry. It appears that TechCrunch's Michael Arrington, Craigslist's Craig Newmark, the Wall Street Journal's Walt Mossberg and LinkedIn's Reid Hoffman have all joined. And others on the list belong to Facebook networks such as the New York Times, Wired Magazine and even Time Inc., as well as alumni from Stanford, MIT, Harvard, NYU and Berkeley.
According to a report in yesterday's New York Times, the magazine could face a shutdown in September, the victim of an advertising drop at the San Francisco-based magazine. The report notes that revenue at the magazine is down 38 percent, as of earlier this month but that paid circulation - 623,000 - was about the same in 2005 and 2006.
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