FT Business, sister company to the Financial Times, is selling its
newsletters and management reports business.
The decision follows a review by new managing director Michael Murphy,
who joined in April from the Financial Times where he was worldwide
commercial director.
The 100 staff were told of the news last Wednesday. Only 10 ad sales
staff are affected.
Murphy is keen to concentrate efforts and resources on the magazine
group which includes Investor’s Chronicle and Money Management. Last
week saw the re-launch of The Banker and the launch of a new monthly
title, Mortgage Extra, an offshoot of Financial Adviser.
Murphy said: ’We need to invest in our existing magazines and add new
titles, either organically or through acquisition.’
The portfolio for sale includes newsletters in finance, media,
telecommunications, pharmaceuticals, automotive and retail.
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