German FT to end publication

Published on 24/11/2012 00:00

German business newspaper Financial Times Deutschland is to close after piling up millions of euros in losses during its 12 years of operation, publisher Gruner & Jahr said yesterday.

The paper, published in the salmon pink colour of its British namesake, is pulling the plug after accumulating what local media said were €250 million (£203m) in losses since 2000.

G&J, controlled by German media conglomerate Bertelsmann, launched the paper 12 years ago as a joint venture with Pearson, but the publisher of the FT sold its 50 per cent stake to its German partner in 2008.

The publication, which has faced tough competition from a plethora of established national newspapers since its launch in 2000, has a circulation of about 100,000 but never made a profit.

It is thought that some 330 employees will lose their jobs.