The famous pink broadsheet has been facing tough times with the advertising downturn, as well as job cuts in the City. Full-price sales have fallen over recent years from a high of 190,000 to 120,000 in the UK, and it is struggling to break even where it once made a profit of some £80m a year.
Now, according to reports, the FT is to launch a new tabloid section, on UK business, and boost editorial staffing after a recruitment freeze. The new tabloid section is said to be in a similar vein to The Guardian's G2 supplement.
Pearson chief executive Marjorie Scardino has previously said that the company has no plans to sell its flagship newspaper. The company has reportedly been approached by Dow Jones, owner of The Wall Street Journal, over plans to cooperate on distribution in a cost-cutting move.
The FT Group said that Addis's appointment had not been confirmed. He was the editor of the Daily Express before Rosie Boycott, and has since been working in Canada for the national newspaper The Globe and Mail.
In December, Pearson announced that the FT Group continued to face "a severe corporate advertising recession" and that it expected advertising revenues at the Financial Times to be 11% lower than last year.
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