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Compared with the frothy content plays of the era, the Standard stood as a solid foundation, pulling in $158 million in ad revenue in 2000--and actually turning a profit, albeit briefly. How could it fold so suddenly? Could the publication that had adroitly skewered all those bogus dotcom business plans have been brought down by the same shortcomings...
...when dotcom-driven advertising dried up--and ad revenues fell 62% from January through July this year alone, according to the Publishers Information Bureau--cash reserves quickly followed. Weber unleashed regular showers of pink slips but not fast enough to help. Last Tuesday plans for a second round of financing fell through. IDG--the technology trade-magazine giant based in Boston that owns 85% of the Standard--decided to pull the plug...
...Standard's demise underscores the challenges confronting the last few mainstream New Economy journals: Red Herring, Fast Company (bought last year by Gruner & Jahr), Wired and Business 2.0. Their ad slump is not as severe as the Standard's, but is still daunting (20%, 31%, 32% and 44% drops from January through July, respectively). But Fast Company and the Herring are older, more established magazines with lower costs, and Conde Nast's Wired and AOL Time Warner's Business 2.0 have potential subscription draws and advertising leverage from the many properties of their parents...
...chairman John Battelle. "That idea is still solid. I still believe." Battelle has one prospect to cling to. If his company files for Chapter 11 protection, the Standard, not IDG, will control the sale of its assets--including the name. That is small consolation in a world in which ad revenues keep sinking into the fissures of the biggest economic bust in a decade...
...half months after her first surrogate pregnancy began, as twin babies kick inside her, Beasley could not be much farther from a happy ending. She's mired in a bitter legal battle with Charles Wheeler and Martha Berman, the San Francisco attorneys who found her classified ad on the Internet and flew her over last March for a trip to a fertility clinic. Pregnant with one more baby than Wheeler and Berman wanted, Beasley says she has received only $1,000 of the $20,000 they originally agreed to pay her. The fate of the twins she's carrying...