Financial Times to tie knot with P-N

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, 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.

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