NEW YORK: The Financial Times is close to naming Porter Novelli as
its single PR agency of record. The firm is being retained to further
help the paper raise its profile in the US.
Both P-N and Robinson Lerer Montgomery, Financial Times' two incumbent
agencies, competed for the assignment. RLM had handled the newspaper
business, while P-N oversaw FT.com, a task it will keep.
Insiders suggest that bringing the two sides of the business together
could be part of a cost-cutting exercise. Pearson, the paper's parent
company, recently announced that it was laying off 40 employees from its
Internet operations, or about 10% of its online work force. The
Financial Times employs approximately 4,300 people worldwide.
Neither the paper nor P-N were available for comment.