This article is from the source 'guardian' and was first published or seen on . It last changed over 40 days ago and won't be checked again for changes.

You can find the current article at its original source at http://www.guardian.co.uk/media/2013/jan/21/financial-times-digital-first

The article has changed 2 times. There is an RSS feed of changes available.

Version 0 Version 1
Financial Times editor announces digital-first strategy Financial Times editor announces digital-first strategy
(35 minutes later)
The Financial Times editor, Lionel Barber, has announced plans to move the title to a digital-first strategy in a move he described as a "big cultural shift" for the business daily, and cut 35 jobs.The Financial Times editor, Lionel Barber, has announced plans to move the title to a digital-first strategy in a move he described as a "big cultural shift" for the business daily, and cut 35 jobs.
Barber said the FT will make a net headcount reduction of 25 – after hiring 10 journalists for digital roles – in an effort to save £1.6m this year as part of the strategy, outlined to staff in a memo on Monday, seen by MediaGuardian. He added that the FT needed to be "reshaped for the digital age".Barber said the FT will make a net headcount reduction of 25 – after hiring 10 journalists for digital roles – in an effort to save £1.6m this year as part of the strategy, outlined to staff in a memo on Monday, seen by MediaGuardian. He added that the FT needed to be "reshaped for the digital age".
Barber said: "We need to ensure that we are serving a digital platform first, and a newspaper second. This is a big cultural shift for the FT that is only likely to be achieved with further structural change."Barber said: "We need to ensure that we are serving a digital platform first, and a newspaper second. This is a big cultural shift for the FT that is only likely to be achieved with further structural change."
He added the FT would only survive if it adapts to the demands of readers in digital and in print. Technology companies such as Google, LinkedIn and Twitter are routinely disrupting the business models of old titles.He added the FT would only survive if it adapts to the demands of readers in digital and in print. Technology companies such as Google, LinkedIn and Twitter are routinely disrupting the business models of old titles.
"It would be reckless for us to stand still. Of course, we must stick to the tested practices of good journalism: deep and original reporting based on multiple sources and a sharp eye for the scoop," Barber said."It would be reckless for us to stand still. Of course, we must stick to the tested practices of good journalism: deep and original reporting based on multiple sources and a sharp eye for the scoop," Barber said.
"But we must also recognise that the internet offers new avenues and platforms for the richer delivery and sharing of information. We are moving from a news business to a networked business.""But we must also recognise that the internet offers new avenues and platforms for the richer delivery and sharing of information. We are moving from a news business to a networked business."
Barber said his trip to Silicon Valley in September "confirmed the speed of change" in the media, as he detailed eight proposals aimed at shifting the newspaper's resources from print to digital.Barber said his trip to Silicon Valley in September "confirmed the speed of change" in the media, as he detailed eight proposals aimed at shifting the newspaper's resources from print to digital.
The plans include page editors becoming content editors and an end to "octopus commissioning" – thought to be a reference to streamlining the FT's content commissioning operation.The plans include page editors becoming content editors and an end to "octopus commissioning" – thought to be a reference to streamlining the FT's content commissioning operation.
Barber acknowledged that the changes will be "wrenching" but added that they were vital to safeguard the future of the title. There was no reference in the memo to recent speculation of about a possible sale of the FT by parent company Pearson, which has denied it is on the block.Barber acknowledged that the changes will be "wrenching" but added that they were vital to safeguard the future of the title. There was no reference in the memo to recent speculation of about a possible sale of the FT by parent company Pearson, which has denied it is on the block.
He said: "This is not an easy transition, but we are obliged to take the difficult steps to secure the FT's future as one of the world's great news organisations."He said: "This is not an easy transition, but we are obliged to take the difficult steps to secure the FT's future as one of the world's great news organisations."
Pearson is firmly behind the shift to digital, according to the memo, and is providing financial backing for the restructure in the first quarter of this year.Pearson is firmly behind the shift to digital, according to the memo, and is providing financial backing for the restructure in the first quarter of this year.
The FT had not responded to a request for comment at the time of publication. The FT declined to comment.
• To contact the MediaGuardian news desk email editor@mediaguardian.co.uk or phone 020 3353 3857. For all other inquiries please call the main Guardian switchboard on 020 3353 2000. If you are writing a comment for publication, please mark clearly "for publication".• To contact the MediaGuardian news desk email editor@mediaguardian.co.uk or phone 020 3353 3857. For all other inquiries please call the main Guardian switchboard on 020 3353 2000. If you are writing a comment for publication, please mark clearly "for publication".
• To get the latest media news to your desktop or mobile, follow MediaGuardian on Twitter and Facebook.• To get the latest media news to your desktop or mobile, follow MediaGuardian on Twitter and Facebook.