Final FT Deutschland to be printed on December 7
November 23 , 2012
German business daily Financial Times Deutschland (FTD) is to publish its last edition on December 7 when owner Gruner + Jahr (G+J) winds down its operations, according to sources speaking to Reuters news agency on Thursday.
The FTD was launched as a joint venture with Financial Times publisher Pearson in 2000.
Salmon pink like its British namesake, the newspaper shook up the German print industry with its modern design and international outlook.
However, it failed to make a profit and eventually fell to decreasing advertising revenues in Germany.
Around 330 employees are expected to lose their jobs.
G+J, controlled by German media conglomerate Bertelsmann, has set aside $49 million in closure costs.
FTD has a circulation of around 100,000. According to German media reports, it registered a loss of $16 million last year while accumulated losses since 2000 are estimated at $398 million.