Financial Times Deutschland likely to be shuttered - report

FRANKFURT Sat Nov 17, 2012 10:45pm IST

An edition of the Financial Times Deutschland (Germany) is seen at a shop in Frankfurt August 28, 2012. REUTERS/Kai Pfaffenbach/Files

An edition of the Financial Times Deutschland (Germany) is seen at a shop in Frankfurt August 28, 2012.

Credit: Reuters/Kai Pfaffenbach/Files

Related Topics

Stocks

   

FRANKFURT (Reuters) - German publisher Gruner + Jahr (G+J) is likely to decide to stop publishing Financial Times Deutschland (FTD), a German magazine reported, as the daily business newspaper has not managed to break even since its debut in 2000.

A decision to shutter FTD along with two other publications that draw on FTD editorial staff is expected at a meeting of the Gruner + Jahr's supervisory board next Wednesday, weekly Focus reported, citing company sources.

About 330 staff would lose their jobs, the magazine said.

A Gruner + Jahr spokesman described the report as "speculation." He said the publisher was currently considering several options for its business publications but added: "There is no decision."

FTD started as a joint-venture of Financial Times publisher Pearson (PSON.L) and Gruner + Jahr, which is controlled by unlisted media giant Bertelsmann, but Pearson sold its 50 percent stake to its German partner in 2008.

A person familiar with the matter told Reuters that a proposal to fold the FTD would be discussed at Wednesday's board meeting. (Reporting by Peter Maushagen; Writing by Ludwig Burger. Editing by Jane Merriman)

FILED UNDER:
Comments (0)
This discussion is now closed. We welcome comments on our articles for a limited period after their publication.

  • Most Popular
  • Most Shared

REUTERS SHOWCASE

RBI Policy Review

RBI Policy Review

RBI keeps rates on hold, warns on inflation  Full Article 

China iPhone Sale

China iPhone Sale

China regulator approves Apple's iPhone 6 for sale in China  Full Article 

Cleanliness Drive

Cleanliness Drive

Modi orders officials to clean loos on Gandhi's birthday.  Full Article 

Bid to Boost Trading

Bid to Boost Trading

RBI takes small steps to deepen markets.  Full Article 

Car Recall

Car Recall

Maruti Suzuki says to recall 69,555 cars.  Full Article 

China Factory Data

China Factory Data

China final HSBC PMI steady in September on stronger global demand but risks remain  Full Article 

Oil Demand

Oil Demand

India's thirst for oil grows even as China cuts back  Video 

EBay Divests PayPal

EBay Divests PayPal

EBay to spinoff PayPal in 2015  Full Article 

Reuters India Mobile

Reuters India Mobile

Get the latest news on the go. Visit Reuters India on your mobile device.  Full Coverage