Japan-Owned Financial Times Sinks to £34.5m Loss: Telegraph

The UK-based Financial Times newspaper has slumped to a heavy loss after the coronavirus pandemic accelerated the decline of its print edition, The Telegraph newspaper in London reported.

Financial Times Limited, a unit of Japan’s Nikkei media group, reported a pre-tax loss of £34.5 million for 2020, compared with a loss of £4.6 million in the previous year. It now sells fewer than 6,000 copies at UK newsstands on weekdays, the Telegraph reported.

A combination of cash reserves, a £100 million loan from Nikkei and upbeat performance forecasts meant the company reasonably expected to be able to pay its bills for the next year.

Read the full report: The Telegraph

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George Russell

George Russell is a freelance writer and editor based in Hong Kong who has lived in Asia since 1996. His work has been published in the Financial Times, The Wall Street Journal, Bloomberg, New York Post, Variety, Forbes and the South China Morning Post.