UK: Financial Times downgrades media section

The Guardian announced that The Financial Times will discontinue its weekly media section "Creative Business" in its current form. The Guardian illuminates, "[the] decision comes two months after the Telegraph closed its media section and in the same year the Times decided to downgrade its media coverage on Fridays. The FT, which has struggled to attract advertising to the supplement, is to turn its weekly Creative Business into a monthly section from next year as part of a major cost-cutting campaign." Certain coverage of the topics will be guaranteed on two pages inside the FT branded "Creative Business," and a similar supplement of the current media bulletin will appear monthly in form of a pullout supplement. A spokeswoman for the FT said no staff cuts would result from the move. "Creative Business had a small staff and everyone will be redeployed," she said, adding that the paper was in discussions with staff about who would stay to oversee the supplement.

Source: The Guardian