London - The Financial Times today launched its 'new newsroom' project to restructure its editorial operations and create one of the most integrated multi-media newsrooms in the world.
The plan, launched today, is to develop a genuinely multi-media news operation - from commissioning, through reporting and editing, to production.
The 'new newsroom' plan is based on a radical re-working of the FT's current newsroom structure to interweave online and print editing, reporting and production. It includes:
- Creating single newspaper/website news desks
- Creating an FT Interactive content team
- Deepening writers' multimedia skills
- Creating a new production structure capable of integrated print and online publishing
- Streamlining newspaper editionalisation
The multi-media news operation will be built around the new Methode editorial production system, installed over the last year, enabling web and print pages to be published off the same platform.
The newsroom restructure may result in around 50 redundancies. The Financial Times is today entering a 30-day consultation period with the NUJ aimed in particular at keeping redundancies to a minimum. A voluntary redundancy programme is part of the consultation process, and this launches today.
Lionel Barber, editor of the Financial Times, commented:
"We start from a position of strength as a market-leading international newspaper with a highly-respected website and other emerging online channels. The FT has long been a pioneer in forging an integrated online and print newsroom, with web-first publishing and a unified editorial department. Now we must take the next step.
Our plans will help us to create an editorial organisation fully equipped to meet the challenge of the digital age. The plans will shape the news operation into one of the most advanced multi-media newsrooms in the world."
For further information
Joanna Manning-Cooper: 020 7873 4447
Katy Hemmings: 020 7873 3811
The Financial Times Group, one of the world's leading business information companies, aims to provide a broad range of business information and services to the growing audience of internationally minded business people. The FT Group includes:
- The Financial Times, one of the world's leading business newspapers, is recognised internationally for its authority, integrity and accuracy. Providing extensive news, comment and analysis, the newspaper is printed in 23 cities across the globe, has a daily circulation of over 446,880 and a readership of more than 1.4m worldwide.
- FT.com is one of the world's leading business information websites, and the internet partner of the FT newspaper. FT.com attracts 5.5 million unique monthly users (ABC electronic figures March 06), generating 41 million page views and has 84,000 subscribers. FT.com broke even in December 2002.
- The FT Group's pan-European network of national business newspapers and online services including France's leading business newspaper and website, Les Echos and lesechos.fr. In February 2000, the FT launched a new German language newspaper, FT Deutschland, with a fully integrated online business news and data service.
- Through FT Interactive Data, the FT Group is one of the world's leading sources of securities pricing and specialist financial information to global institutional, professional and individual investors. Its products include eSignal, an online realtime streaming quotation service for brokers and active traders.
- FT Business, which produces specialist information on the retail, personal and institutional finance industries. It publishes the UK's premier personal finance magazine, Investors Chronicle, and The Banker, Money Management and Financial Adviser for professional advisers.
- The Financial Times Group also has a stake in a number of joint ventures, including;
- FTSE International, a joint venture with the London Stock Exchange.
- Vedomosti, Russia's leading business newspaper and a partnership venture with Dow Jones and Independent Media
- A 50% stake in BDFM, publishers of South Africa's leading financial newspapers and websites.
- A 50% stake in The Economist Group, which publishes the world's leading weekly business and current affairs journal.
A 13.85% stake in Business Standard, one of India's leading financial newspapers.
The FT Group is part of Pearson plc, the international media group.