WAN-IFRA

Shaping the Future of the Newspaper

Date

Sun - 26.10.2014


Financial Times

A £1bn sale of the Financial Times is under active consideration, Bloomberg said today  – only for the story to be immediately denied by its owner. 

Pearson, the FTSE 100 media group, issued a statement in response to the article saying that, though ‘not in the habit of responding to rumours, speculation or reports about our portfolio’, it was obliged to point out that ‘this particular Bloomberg story is wrong.’ Dame Majorie Scardino, the outgoing chief executive of Pearson, once said famously that the FT would be sold ‘over my dead body’ but her impending departure from the company in January lends added credence to the report, as does the fact that the story comes just weeks after Pearson agreed to merge Penguin with Bertelsmann’s Random House in a deal to create the largest book publisher in the US and the UK. 

For the rest of this story, please see our sister publication, www.editorsweblog.org.

Author

Frederick Alliott's picture

Frederick Alliott

Date

2012-11-08 10:13

Free newspaper Metro will continue its expansion in Latin America by launching print and online versions in Puerto Rico later this month, its parent company Metro International, headquartered in Sweden, announced today.

Metro’s presence in Puerto Rico’s capital San Juan will bring the number of Latin American countries in which Metro is handed out up to eight; the freesheet is already distributed to almost three million daily readers in the metropolitan centers of Mexico, Brazil, Chile, Ecuador, Peru, Guatemala and Columbia.

"Latin America has grown in importance to Metro and now accounts for over 25 percent our business," said Mikael Jenson, CEO and President of Metro International, in the release.

The Financial Times has similarly announced a “significant expansion into the Latin American market” today.

The salmon-coloured British daily is launching a digital newspaper printing site in Brazil, which as of tomorrow will begin using high-speed inkjet technology to print newspapers in São Paulo, Rio de Janeiro and the capital Brasilia.

The Financial Times is concurrently launching a new mobile web app for Latin America, and a Latin America homepage for its website, FT.com, both of which will prioritize content that is relevant to its growing Latin American readership. 

Author

Emma Knight's picture

Emma Knight

Date

2012-10-02 17:10

Reports about the global newspaper industry collapsing around our ears are a fairly common occurrence nowadays - Jack Shafer’s piece for Reuters yesterday titled “The great newspaper liquidation” is just one example. But two publications that have been defying the general gloom and growing their profits are the Economist and the Financial Times.

This being the case, perhaps it’s no surprise that Atlantic Media announced earlier this year that it would be launching a new publication to take "a run at the space that The Economist and the Financial Times currently occupy."

Author

Hannah Vinter's picture

Hannah Vinter

Date

2012-06-06 14:45

We don’t need any further proof that the digital publishing age is upon us. But if we did, two recent news stories highlight the trend.

Last week The Next Web reported on a talk given by the managing director of the FT.com Rob Grishaw, who predicted that by the end of 2012, the Financial Times will have more digital subscribers than it sells print copies. The article notes that the FT currently has 285,000 online subscribers, compared to a print circulation of 310,000.

The Next Web also notes the money that the FT makes from digital subscriptions is set to overtake its ad income this year. The article credits the FT’s digital success to its early commitment to online news: “Not only did the newspaper venture earlier than others into online content, but it also took a bold approach by betting on subscriptions, rather than free content,” writes The Next Web.

The Financial Times is not the only company showing a full commitment to multimedia publishing. Roy Greenslade at the Guardian reports that The Newspaper Marketing Agency, an organisation dedicated to promoting newspaper advertising, has rebranded itself as “Newsworks”.

Author

Hannah Vinter's picture

Hannah Vinter

Date

2012-05-21 17:01

Around 250 Financial Times journalists are planning to strike for two hours at 3pm today over an on-going pay dispute.

The National Union of Journalists writes that, after long talks between its representatives and FT management at the Advisory, Conciliation and Arbitration Service yesterday, no resolution was reached over the paper’s controversial pay deal.

The FT Group, which posted a 27% increase in profits in its end-of-year results last month, offered FT journalists a payrise of 2%, out of a 3.5% increase to the payroll.

FT CEO John Ridding told paidContent last month that staff earning under £50,000 a year will be given an extra half-percent rise, and 1% of the money set aside for pay-rises will be awarded for special merit. 

The NUJ has called the proposals, which single out "star" performers for more pay, “deeply divisive and an attack on union collective bargaining”.

Author

Hannah Vinter's picture

Hannah Vinter

Date

2012-03-13 15:09

Pearson has just published its end-of-year results, and in a tough economic climate they're impressively strong. The company, which counts the FT Group, Penguin, Pearson Education and a 50% stake in the Economist Group among its many holdings, has reported a 12% increase in its adjusted operating profit, with a 27% growth in profits for the FT Group.

Part of this success is due to the FT Group reducing its dependence on volatile advertising markets, and relying more heavily on digital, subscription and content revenues.

Overall, the FT Group is now making more money from its content, and less from advertising. In 2007, the group drew 41% of its total revenues from content, 59% from ads. Now the balance is 58% from content, 42% from ads.

What's more, according to the report, money from digital and services now account for 47% of the FT Group's revenues, compared to just 25% in 2007.

Author

Hannah Vinter's picture

Hannah Vinter

Date

2012-02-27 13:07


Ever since the iPhone and iPad arrived, publishers have spent millions building dedicated software to try to cash in on the app boom. Everyone who was anyone -- from the Wall Street Journal to Wired -- just had to have an app -- even though the business reasons weren't that great.

Continue reading on GigaOm

Author

Anton Jolkovski's picture

Anton Jolkovski

Date

2011-06-08 17:45

The Financial Times will give its editorial staff a three percent wage increase in 2011 as well as a performance-related bonus estimated at £1,000, Journalism.co.uk reported today. The company will also distribute vouchers so all employees can buy an iPad or another tablet.

FT Managing editor Lisa MacLeod explained in an internal memo that both the pay increase and the bonus "were the result the strength of the financial performance of the business and the excellent contribution of the editorial department," the Press Gazette explained.

In the first six months of the year, the media group doubled its operating profit by £30 million, mostly due a nine percent growth in revenue, according to the Press Gazette. Furthermore, its parent company, Pearson, sold its 61 percent stake in Interactive Data for £1.28 billion.

According to the memo, the bonus "is in recognition of the exceptional effort put in by you all over the past year," and it had been negotiated by the National Union of Journalists in 2008. It will be paid in March. McLeod also said that, from now on, the starting wage for editorial positions would be £40,000.

Author

Clara Mart

Date

2010-11-18 20:07

The FT Group, publisher of The Financial Times, revealed that digital subscriptions to the newspaper grew by 50 percent to more than 180,000 in the first nine months of 2010, paidContent.org reported today.

The division, which is part of Pearson publishing group, saw a 11 percent increase in sales "thanks to a strong performance at the Financial Times, both in the digital and hard-copy newspaper formats," the FT.com informed.

The results show that the micropayment system launched in March by allowing registered users to access ten free articles a month is working, 233grados.com explained.

Overall, Pearson reported an operating profit of 15 percent and a revenue growth of 8 percent. Sales were up by 7 percent, Bloomberg reported. In a statement, the company said its earnings per share are expected to increase by 10 percent.

Author

Clara Mart

Date

2010-10-25 23:49

Prominent business daily The Financial Times has generated more than £1 (US$1.58 or €1.14) million in advertising revenue through its iPad application, MediaWeek reported Tuesday.

"My job is to make the FT brand sweat. "Print [advertising] isn't dead but media owners are just having to find new ways to put [different models] together," Ben Hughes, the paper's deputy chief executive, said at the MediaGuardian Changing Advertising Summit, the Guardian wrote.

Image: Brand Republic


The app was launched in May and serves more than 400,000 paying subscribers. According to the Guardian, it accounts for 10 percent of new digital subscriptions. Print ads only make up 40 percent of FT's total profits.

Hughes outlined that the shifts in the ad industry were not restricted to ventures arising from new technology and that the publication was branching out into other areas (like events), the Guardian added.

In the following two week after the app was launched, the outlet saw three times more downloads (130,000 to be exact) than its iPhone app, Brand Republic pointed out.

See also:

Author

Alisa Zykova

Date

2010-10-13 16:16

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