Kerry Flynn of Axios recently spoke with Matt Fottrell, the vice president of Financial Times in the U.S. and managing director of FT Specialist about its majority stake purchase in biotech news site Endpoints News.
Flynn writes that “speaking from the FT’s New York office in the west side of Soho,” Fottrell said that their deal with Endpoints made sense given that both publications’ editorial missions aligned with each other.
- “The biopharma sector is a multitrillion-dollar industry. It’s highly regulated. It’s incredibly competitive. There are always deals taking place … and they are news hungry,” says Fottrell.
- “Broadly speaking, I like businesses where there’s a prize for winning and a penalty for losing,’ he adds. ‘That makes [people] more likely to subscribe.”
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Financial Times (FT) has acquired a majority stake in Endpoints News, a biotech news site. Kerry Flynn of Axios recently spoke with Matt Fottrell, the vice president of Financial Times in the U.S. and managing director of FT Specialist regarding their acquisition.
Fottrell said that both publications’ editorial missions aligned well with each other which made sense for them to acquire Endpoints News. He also mentioned that the biopharma sector is highly regulated and incredibly competitive which makes it an industry where there are always deals taking place and people are hungry for news.
Furthermore, he added that businesses like these have a prize for winning and a penalty for losing which makes people more likely to subscribe.
This acquisition by FT shows its commitment towards expanding its coverage on healthcare as they continue to invest in quality journalism.
