New York - Facing an advertising downturn, Time Inc.'s Business 2.0 technology industry magazine may shutter in September, The New York Times reported on Tuesday.

Business 2.0 has had another trend defining staff departure, following the departure of blogger Om Malik last year to launch his own media company. Now, the news is that Business 2.0 editor Owen Thomas will be the new editor of Valleywag, the tech gossip blog run by gossip monger Nick Denton (picture). What I find interesting about this news is how it reflects the evolution of magazine media — particularly the staffing model.