FT takes over Money-Media

Global - The Financial Times (FT) has bought over US-based online fund management news and commentary provider Money-Media, with plans to further consolidate its position with fund managers and advertisers.

Money-Media provides publications, online services and conferences - for investment managers and company directors - such as online services Ignites and Fundfire, online and print publication Agenda, and ODX (Outstanding Directors Exchange), a series of peer-to-peer conferences.

FT's chief executive John Ridding explained that the growth of the fund management sector is being propelled by the globalisation of investments, diversification of asset classes and increasing focus on risk mitigation - thus the need for reliable and relevant information about frequent changes in regulation.

"With the FT's global presence and expertise behind it, Money-Media will be able to expand its customer base and product offering into Europe and Asia and both businesses will be able to provide customers with enhanced offerings. Customers are increasingly demanding filtered information with expert opinion and the FT is the world's leader in informed business commentary - the synergies are obvious," Michael Griffin, previous CEO and sole-voting shareholder of Money-Media, said.

Money-Media will remain under the key senior executive team's management, led by MD Andrew Sollinger, who will report to FT financial publishing director Mark Cunnington. Earlier, FT also launched FTfm, a fund management newspaper supplement published globally.