Two of the world's leading newspapers - The New York Times and
London's Financial Times - have struck a deal to publish a batch of each
other's stories every day on their websites.
The terms of the deal are such that NYTimes.com can publish a maximum of
ten articles at a time from FT.com's business, technology and
international news coverage.
FT.com will have the same rights to run stories that originated on
NYTimes.com and all the articles will keep the branding of the site that
originally produced them.
The deal is expected to get underway next month, though no firm date has
yet been announced.
FT Group chief executive Stephen Hill said: 'This partnership between
two of the world's most respected news organisations will benefit
audiences seeking editorial insight and perspective from authoritative
and trusted online brands.'
The deal comes at a time when the FT is engaged in a stiff circulation
battle with other US business titles. Competition is especially fierce
with the Wall Street Journal on three fronts - in the US, Europe and
The FT has invested heavily in recent years in a bid to expand its US
presence, both on the internet and in its print version.
This included the stationing of the paper's editor, Richard Lambert -
who is standing down next month - in New York for most of last year.
For its part, The New York Times has launched a daily section devoted to
the international business scene.
According to FT.com, after large investments from their parent companies
- New York Times Digital and the Pearson Group-owned FT - the sites have
vowed to make their operations profitable by late next year.
Both companies are also at the vanguard of an attempt by internet
content providers to charge for editorial material online. The 'premium
content' concept would offer users a combination of free and paid-for