Financial Times Deutschland

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Financial Times Deutschland
Owner(s) Gruner + Jahr
Editor Steffen Klusmann
Founded 21 February 2000
Political alignment Keynesianism[1]
Language German
Ceased publication 7 December 2012
Headquarters Hamburg, Germany
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.[2]

History[edit]

The paper was founded at the height of the dot-com bubble on 21 February 2000 as a joint venture between UK Financial Times publisher Pearson and Gruner + Jahr.[3][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] The circulations of the daily in 2008, in 2009 and in 2010 were 112,238, 103,276 and 103,609 copies, respectively.[8]

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).[9] The final issue was named Final Time Deutschland.[10] The paper's internet presence was 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.[11]

References[edit]

  1. ^ Von Jan Mallien. "US-Ökonom Allan Meltzer: "Keynes' Politik ist ausrangiert"". Handelsblatt (in German). Retrieved 12 December 2012. 
  2. ^ Germany's Financial Times Deutschland closes after huge losses, Guardian, London, 7 December 2012.Retrieved: 20 December 2012.
  3. ^ "FTD-Historie: 12 Jahre in Bildern". Financial Times Deutschland. Retrieved 7 December 2012. 
  4. ^ a b c Wiesmann, Gerrit (23 November 2012). "FT Deutschland closure date confirmed". Financial Times. Retrieved 7 December 2012. 
  5. ^ Jones, Gareth (7 December 2012). "Gloom and jokes as Financial Times Deutschland laid to rest". Reuters. Retrieved 7 December 2012. 
  6. ^ a b Nadine Schimroszik (23 November 2012). "Financial Times Deutschland to close". The Guardian. Retrieved 7 December 2012. 
  7. ^ McDermott, John (3 October 2011). "Papandreou mulls resignation, says FT Deutschland". Financial Times. Retrieved 7 December 2012. 
  8. ^ "National newspapers total circulation". International Federation of Audit Bureaux of Circulations. Retrieved 7 October 2013. 
  9. ^ Rob Wile (7 December 2012). "FT Deutschland Final Issue". Business Insider. Retrieved 7 December 2012. 
  10. ^ Alison Langley (12 December 2012). "Europe’s newspapers are dying too". Columbia Journalism Review. Retrieved 6 October 2013. 
  11. ^ "German newspapers: So farewell then, FTD". The Economist. 8 December 2012. Retrieved 15 January 2013.