Financial Times tests freesheet waters with new afternoon offering

by Jennifer Whitehead, Brand Republic 13-Apr-05, 11:00

LONDON - The Financial Times is the latest publisher to test the free newspaper waters, with the launch of an afternoon briefing to be available in print and online.

The A4, double-sided briefing will be known as FTpm, and available in print and online every afternoon from Monday to Friday. It will carry advertising, as well as promoting content, comment and analysis in the following day's Financial Times newspaper and on FT.com.

Hard copies will be made available to the Financial Times' corporate clients, including offices in the City and leading business hotels. It will also be available to download via a new PDF service on FT.com.

Andrew Gowers, editor of the Financial Times, said: "Our readers need to stay up to date with breaking business news throughout the working day, and rely on the FT not just for the news, but for the most incisive comment and analysis too. That's what we'll give them during their working day with FTpm."

FTpm will launch by the end of April. It will be available from 4pm every day and will use content from FT.com to promote the newspaper's print and online news operation and production systems.

Michael Rzesnitzek, managing director of the FT in Europe, said: "Our target audience is UK plc, and we'll reach our business readers in their offices, or when they are travelling. This is an important audience for our advertisers, and another way of making sure the FT is the UK's leading business news brand."

Separately, one of Financial Times-owner Pearson's largest investors, Franklin Templeton, has said that unless the newspaper starts to generate "tens of millions of pounds" a year in profits, the company should consider selling the paper off.

The newspaper made a loss of £9m last year and there has previously been speculation that the FT could be sold, with Rupert Murdoch named as one possible bidder.

However, under competition rules Murdoch would have to sell off The Times before he could take control of the FT.

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