By Katie Allen: The Financial Times Lex commentary team is hoping to raise its profile and revenues thanks to a deal with business news broadcaster Bloomberg TV.
Lex columnists will appear on the financial channel every weekday to expand on commentary addressed in the day’s column. In a collaboration that taps into the growing premium being placed on commentary, the clips will also be available on the FT.com website, where the newspaper group will run advertising alongside them.
The FT said the deal will help its commentators reach Bloomberg’s 200 million global viewers and those visiting Bloomberg.com.
“The FT’s goal is to bring the very best news and analysis to the world’s financial decision-makers across all platforms. This agreement with Bloomberg Television provides another channel and a quality audience for our premium commentary,” said the FT’s chief executive, John Ridding.
Lex, the daily opinion column on the back of the Financial Times, first appeared in 1945. Edited by Jo Johnson, the column now has an estimated daily readership of 1.3 million and a team of columnists based in New York, London, Tokyo and Hong Kong.
The Bloomberg Multimedia head, Andy Lack, said: “The Lex column is a widely read and highly respected source of financial information for business leaders around the world. Its global viewpoint parallels the reporting done every day at the worldwide bureaus of Bloomberg Television.”
News agencies and newspapers have been turning their attention to the value of commentary and the potential to charge for it in an age when straight news stories are widely available for free from a growing number of sources online.
News of the FT-Bloomberg deal follows reports that Thomson Reuters (NSDQ: TRIN) has agreed to buy Breaking Views for about £10m.
The Sunday Times reported that the co-founder of the site, Hugo Dixon, who previously ran the FT’s Lex for five years, will receive £2.7m in the Thomson Reuters deal.
This article originally appeared in Â© Guardian News & Media Ltd..