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Confirming the weeks of speculation, business magazine Business 2.0 is closing its doors. According to sources, Joe Mansueto, publisher of magazines Inc. and Fast Company, was in the running to purchase the property from Time Inc. for an estimated $5 million, but the two could not reach a purchase agreement. Business 2.0 editor Joshua Quittner (pictured right), author of Masters of Deception: The Gang That Ruled Cyberspace and former Wired contributor, will be reassigned to Fortune magazine.
