• Germany edition
National
Photo: DPA

Financial Times Deutschland closes

Published: 23 Nov 12 11:32 CET | Print version
Updated: 23 Nov 12 15:04 CET
Online: http://www.thelocal.de/national/20121123-46349.html

The last edition of German daily Financial Times Deutschland will appear on December 7, the publishers announced on Friday.

"On Friday morning our publishers officially announced that the Financial Times Deutschland would be wound up," the paper's editor-in-chief Steffen Klusmann wrote on the paper's website.

"The FTD has stood for creative destruction since its foundation in 2000. In the past 13 years, we have provoked and changed much in German economic journalism. We're proud of that."

He went on to blame the paper's closure on the impact of the internet, and added they were unable to find "a business model that could finance our standards of journalism."

"Every other German daily faces the same problem," he continued. "But because of the FTD's late birth and the many crises that have happened since then (the dotcom bubble, 9/11, the Lehman bankruptcy, the debt crisis), it has not been able to build up enough fat to withstand this transformation phase."

Both the print and online editions of the paper will shut down on December 7, he added, promising "a very special" final issue.

Klusmann had already printed an article in the paper on Tuesday saying that the publishers were "considering different options in the face of the losses this newspaper is posting." There had been media speculation since then that the FTD would likely be shut down this week.

It was reported that the FTD had lost €10 million this year, and that all of G+J's financial titles, which are run from one office, had lost €15 million in total.

Another major German newspaper, the Frankfurter Rundschau also filed for bankruptcy last week, though it could well be saved by a buyer, a spokesman for insolvency administrator Frank Schmitt confirmed on Wednesday.

The Local/bk

What do you think? Leave your comment below.


Your comments about this article:

ADD YOUR COMMENT   (YOU MUST LOG IN OR REGISTER TO MAKE A COMMENT)
Today's headlines
'The Jewish Candidate'
Photo: David Crossland

'Germany is indifferent to neo-Nazi violence'

It's an intriguing premise: Are Germans ready to elect a Jewish politician chancellor? British journalist David Crossland has written a novel exploring themes of racism and neo-Nazi violence in Germany. The Local has excerpts. READ () »

Photo: DPA

Fan wants Bayern ticket-Oktoberfest beer swap

A Bayern Munich supporter is so desperate to get his hands on a ticket for Saturday's Champions League final against Borussia Dortmund he is offering to trade 20 litres of beer and a rare free table at Oktoberfest. READ () »

Photo: DPA

Nationwide cannabis limit rolls nearer

Germany could in the future have a country-wide “tolerable limit” for cannabis possession, it was reported on Friday. Currently, this amount differs between states. READ () »

Photo: DPA

Job centre Facebook spying 'is illegal'

Job centres searching for photos of “ill” people at wild parties or statuses by “broke” people boasting about their new cars were warned on Friday it was illegal to use Facebook to spy on people suspected of abusing the benefits system. READ () »

Last year's annual meeting. Photo: DPA

Fraternities mull 'Aryan purity' test for members

Germany's oldest fraternity association could change its membership rules to include only ethnic Germans at their annual meeting this weekend, the country's media reported on Friday. READ () »

My Germany
Photo: Private

'Herrenberg is a colourful, cultural gem'

Get The Local flavour of Germany with our series offering an insider's take on their hometown. This week, Marcy Jarvis talks about her adopted town, Herrenberg. READ () »

Photo: DPA

Immigrants 'more skilled' than many Germans

Nearly half of all immigrants arriving in Germany are more highly skilled than their host country's residents, a study released on Friday revealed. READ () »

Photo: DPA

Cardinal: Women should stay at home and breed

A leading German Catholic cardinal says the government should encourage women to stay at home and breed - rather than bring immigrants into the country to solve its demographic problems. READ () »

More National
RECEIVE OUR NEWSLETTER AND ALERTS
Highlights
Photo: DPA
OPINION »
The country's most revered and reviled composer, Richard Wagner is our German of the week in time for his 200th birthday.
Photo: DPA Photo: DPA Photo: DPA Photo: DPA Photo: Private Photo: DPA Photo: DPA Photo: DPA Photo: DPA Photo: DPA Photo: DPA Photo: M&S Photo: Private Photo: Katie Needs Photo: DPA Photo: DPA Photo: A Peoples' Picture Photo: Private Photo: DPA Photo: Private Photo: DPA Photo: DPA Photo: DPA Monster/jobpilot.de Furniture Leasing Corporation Photo: Henrik Trygg/imagebank.sweden.se



Latest news from The Local in France

More news from France at thelocal.fr

Latest news from The Local in Norway

More news from Norway at thelocal.no

Latest news from The Local in Sweden

More news from Sweden at thelocal.se

Latest news from The Local in Switzerland

More news from Switzerland at thelocal.ch

See all ads | Join the Marketplace

Jobs in Germany, in English

973 jobs available
684 new jobs this week
143 new jobs today

ALL JOBS »

Blog
Essentials

Dating
Looking for your own blonde bombshell? Or is the strong, silent type more your style? Find a German sweetheart here.

Weather
"After clouds comes clear weather," say the Germans. But what about after that? Find out in The Local's weather section.

Blog
German stuff that's distracting us today.

Noticeboard
Whether you want to buy, sell, hire, announce or promote something, here's the place to do it - completely free of charge.

Discuss
Debate the news, ask for advice, make friends - or just let off steam.

Search News


Register

Register now for:
> Free use of noticeboard
> Special discounts
> Weekly news roundup
> Unlimited use of discuss

REGISTER FOR FREE »

News from the Goethe-Institut
News from Young Germany
  • So You Want to Be an Artist
    The tradition of hands-on training in the arts is alive and well in Germany. Interested in studying visual, performance, or sound arts? Keen to pursue graphic and product design, textiles, or typography? Germany is home to many exceptional art schools as well as a rich history of excellence in and support for the arts.
  • Frankfurt's Skyscrapers: A Guide
    Frankfurt is known for banks and skyscrapers. So what is behind the colossal glass, steel, and stone facades of the city’s buildings? Meet Frankfurt’s tallest.
  • Conference - Pioneers on Dual Training Abroad
    Germany‘s system of dual training is one of the foundations of its economic strength.
  • The all-German final in Wembley
    Bayern München and Borussia Dortmund are playing in the final of the Champions League at London’s Wembley Stadium.
  • German first feature film in Cannes
    A directorial debut from Germany makes it to the competition “Un Certain Regard” at the famous film festival on the Côte d’Azur.
News from DeutschlandOnline

Toytown Germany
Germany's English-speaking crowd
Trade CFDs with InterTrader.com
Start trading shares, equities, forex, etc. No commission on equities; Low min. margins. Apply for a CFDs account now!
Little house in Spain
'Charming, old, beamed cottage for holiday let in Jesus Pobre, Alicante, Spain
www.littlehouseinspain.com/
Albatross Insurance
Professional and qualified consultancy on all insurance and finance matters in Germany, Telephone: +49 2163 571 1740, Email: bg@albatross-assurance.com
www.albatross-assurance.com
Hotel reservations in Berlin
Visiting Berlin anytime soon? Book your hotel in Berlin here.
Rental apartments in Berlin
For home-from-home holiday accommodation, search for a Berlin apartment to rent.