Financial Times Quashes Internet News Service Story

Computergram International, August 24, 1999

The Financial Times (FT) has categorically denied UK Sunday newspaper reports that senior journalists on the London business daily are set to defect to set up a rival internet-based news service modeled on The Street.com, the US online business newspaper.

Yesterday's edition of the FT carried denials of a report in the London-based Sunday Times that senior journalists on the distinctive pink broadsheet were set to stage a mass walk-out. The Sunday Times, owned by News Corporation, a backer of the Street.Com, said the venture was envisaged as an internet newspaper offering exclusive news services with instant commentary pitched at professional and private investors. Richard Lambert, the FT's editor said "The idea of a mass walk-out is complete nonsense." The paper said journalists "had tentatively examined the (plan) but abandoned (it) some weeks ago."