Financial Times examines the future of Creative Business

LONDON - The Financial Times has confirmed it is considering the future of its weekly media supplement Creative Business, but has denied that it has already decided to close it.

Financial Times examines the future of Creative Business

The 16-page supplement has struggled to bring in a significant amount of advertising. This week's issue, even with the editorial draw of the Top 50 Creative Businesspeople, features just three-and-a-half pages of display ads.

A spokesperson for the FT said: "We are looking at Creative Business as part of our annual budgeting process. We have absolutely not taken any decision to close it. It may stay. We are looking at the format but I'm not going to comment on what we might change."

If the format is to be changed, this is likely to mean that the supplement would be trimmed to eight pages, or converted to pages appearing within the main paper.

The FT, owned by Pearson, is expecting to make a loss of around £12m this year, following its £32m loss for 2003. The downturn in financial markets since 2000 has already led the newspaper to implement cost-cutting measures such as a two-year hiring freeze and redundancy last year for around 15% of its 600 commercial staff.

However, the spokesperson denied that the Creative Business review was sparked by the company attempting to cut a further £7m off costs.

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