The American media paid attention today to Australian-American immigrant Rupert Murdoch's reshuffling of News Corporation and the announced closing of his iPad news publication. In Europe, a media event quietly took place that spoke to the challenged economics of the print media. Gunnar + Jahr, part of Bertelsmann, the German publishing Goliath, is shutting down the
Financial Times Deutschland (FTD).
The story, as reported in the Parisian daily Le Monde, noted that 300 people will lose their jobs and 100,000 subscribers will have to find new ways to read reliably reported information.
Meanwhile, Bertelsmann's planned shotgun wedding of its scion Random House with book publisher Penguin (owned by Pearson, which publishes the UK-based
Financial Times) continues on schedule.
PS. The
Financial Times sold its fifty percent share of
FTD in 2008.
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