2.0 on the block on Feb. 16, the same day it closed 20 unprofitable magazines across the U.S. (which were part of its Imagine Media (dossier) unit) and Europe and laid off 350 employees. Future Network's stock price on the London Exchange had collapsed (a result of profit warnings and accounting errors), putting the company in debt. Morgan Stanley Dean Witter was hired to ''explore options'' for Business 2.0, which is often code for an outright sale.
With reporting from Staci D. Kramer.
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