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

Public Health

REUTERS SHOWCASE

Cost Cutting

Cost Cutting

PM Narendra Modi boots officials out of the first class cabin  Full Article 

Airtel Profit Jumps

Airtel Profit Jumps

Bharti Q2 net profit more than doubles   Full Article 

Leisure Riding

Leisure Riding

Harley-Davidson woos affluent young Indians with bike culture  Full Article 

Maruti Earnings

Maruti Earnings

Maruti Suzuki net profit up 29 percent, beats estimates.  Full Article 

ICICI Results

ICICI Results

ICICI Bank Q2 profit up 15 percent, beats estimates.  Full Article 

Moody's on India

Moody's on India

Moody's welcomes India's policy steps, but wants to see more.  Full Article 

End Of QE

End Of QE

U.S. Fed ends bond buying, exhibits confidence in U.S. recovery.  Full Article 

Cook Comes Out

Cook Comes Out

Apple's Cook: "I'm proud to be gay"  Full Article 

Refining Margins

Refining Margins

BPCL aims to double refining margins with refinery expansion.  Full Article 

Reuters India Mobile

Reuters India Mobile

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