Pearson, the international media company, has agreed in principle to take full control of FTMarketWatch.com by purchasing MarketWatch.com’s 50% stake.
Since its launch in June 2000, FTMarketWatch.com, the leading source of online markets news and analysis for Europe’s private investors, has built a loyal user base of more than 500,000 unique monthly users and approximately nine million monthly page views. It generates its revenues from advertising, data licensing and content syndication.
FTMarketWatch.com will complement and expand the existing markets channel of FT.com. FT.com is the UK’s most popular commercial on-line business news channel, with 1.8 million unique monthly users and 40 million monthly page views.
Stephen Hill, Chief Executive of the FT Group commented:
"FTMarketWatch.com will become an integral part of FT.com, enhancing the markets coverage we can offer. It will also enable us to reduce operating costs, share editorial resources and offer more attractive advertising and premium content services to partners and advertisers. We have said that our FT internet businesses will break even by the end of 2002, and this is another step on that path to profitability."
Larry Kramer, Chief Executive of MarketWatch.com commented:
"MarketWatch.com will continue to provide the content and tools that have made FT MarketWatch.com a success in the European market. The new arrangement will give the FT greater operating flexibility and enhance the business relationship between MarketWatch.com and FT.com."
Pearson retains its 34% stake in MarketWatch.com.
Luke Swanson 0207 010 2313
Joanna Manning-Cooper 0207 873 4447