Financial Times Deutschland

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Financial Times Deutschland
Owner Gruner + Jahr
Editor Steffen Klusmann
Founded 21 February 2000[1]
Political alignment Keynesianism[2]
Language German
Ceased publication 7 December 2012
Circulation 103,000
ISSN 1615-4118

The Financial Times Deutschland was a German language financial newspaper based in Hamburg, Germany, published by Bertelsmann's Gruner + Jahr newspaper and magazine division. The daily contained four sections: Business, Politics & Economy, Finance, and Agenda (Comment, Analysis, Sport, Culture). It ceased publication on 7 December 2012.[3]

Contents

History [edit]

The paper was founded at the height of the dot-com bubble in February 2000 as a joint venture between UK Financial Times publisher Pearson and Gruner + Jahr.[4] The paper's original editor was Andrew Gowers.[5] Circulation grew to 103,000 readers by the third quarter of 2007, however the paper never turned a profit.[6] At the beginning of 2008 Pearson sold their stake to Gruner + Jahr for €10m and an agreement to receive annual licence fees of €500,000.[4] Following the sale to Gruner + Jahr, the FT Deutschland became no longer subject to any editorial control from the Financial Times.[7]

Closure [edit]

In November 2012, Gruner + Jahr announced the closure of Financial Times Deutschland as part of a restructuring of their economics publishing division, having failed to find a buyer for the title.[6] G + J estimate that the FTD made a cumulative loss of €250m over its 12 year life.[4] The last print edition was published on 7 December 2012 displaying an all black front cover featuring the words "Endlich schwarz" ("At last, black" alluding to never having booked a profit since inception).[8] The paper's internet presence will also be closed.

The final editor was Steffen Klusmann, who had taken the role on 1 August 2004 following the defection of Christoph Keese to rival Welt am Sonntag.

Following the closure, memorabilia from the newspaper was auctioned off, with the proceeds being donated to press freedom advocates Reporters Without Borders.[9]

See also [edit]

References [edit]

  1. ^ "FTD-Historie: 12 Jahre in Bildern". FTD.de. Retrieved 2012-12-07. 
  2. ^ Von Jan Mallien. "US-Ökonom Allan Meltzer: „Keynes' Politik ist ausrangiert“ - Ökonomie - Politik" (in (German)). Handelsblatt. Retrieved 2012-12-12. 
  3. ^ Germany's Financial Times Deutschland closes after huge losses, Guardian, London, 7 December 2012.Retrieved: 20 December 2012.
  4. ^ a b c Wiesmann, Gerrit (2012-11-23). "FT Deutschland closure date confirmed". FT.com. Retrieved 2012-12-07. 
  5. ^ Jones, Gareth. "Gloom and jokes as Financial Times Deutschland laid to rest | Reuters". Uk.reuters.com. Retrieved 2012-12-07. 
  6. ^ a b Nadine Schimroszik. "Financial Times Deutschland to close | Media | guardian.co.uk". Guardian. Retrieved 2012-12-07. 
  7. ^ McDermott, John (2011-10-03). "Papandreou mulls resignation, says FT Deutschland". Ftalphaville.ft.com. Retrieved 2012-12-07. 
  8. ^ Rob Wile. "FT Deutschland Final Issue". Business Insider. Retrieved 2012-12-07.  Text " Dec. 7, 2012, 8:04 AM " ignored (help); Text " 1,048 " ignored (help)
  9. ^ "German newspapers: So farewell then, FTD". The Economist. 2012-12-08. Retrieved 2013-01-15. 
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