Business
    Next Score View the next score

    German offshoot of Financial Times closing

    BERLIN — The publisher of The Financial Times’ German offshoot says production will be stopped shortly and some 320 employees will lose their jobs.

    The Financial Times Deutschland, which has a circulation of about 100,000, was launched at the height of the Internet boom in 2000 but was never profitable.

    Hamburg-based publisher Gruner + Jahr said in a statement Friday it sees ‘‘no way’’ to continue publishing the loss-making paper beyond Dec. 7 amid further falling revenues.

    Advertisement

    The paper’s journalists first reported that the daily is ‘‘about to be stopped’’ after a board meeting Wednesday.

    Get Talking Points in your inbox:
    An afternoon recap of the day’s most important business news, delivered weekdays.
    Thank you for signing up! Sign up for more newsletters here

    The publisher of the English-language Financial Times, Pearson PLC, sold its stake in the German paper in 2008.

    Associated Press