A Russian newspaper has hit the streets of Moscow and St Petersburg
in an unprecedented deal between the Financial Times and its rival, The
Wall Street Journal.
An ad sales team drawn from the UK, Russia and the US is working on the
Russian language daily, Vedomosti. The team has pre-sold dollars 2.5
million worth of advertising.
The third partner in the venture is Independent Media, publisher of the
Moscow Times as well as local editions of magazines such as Cosmopolitan
and Playboy. The company’s CEO, Dick Sauer, is managing director and
publisher of the new paper.
At least five ad sales staff are dedicated to the new title, but they
can also draw upon Independent Media’s firepower, bringing the total up
to 16 staff. Outside Moscow, international sales are split between Dow
Jones and FT.
Isabel Metzler, advertising director for Vedemosti outside Moscow, said
there might be opportunities for sales staff to work in Russia in the
future ’if Independent Media grows as planned’.
Total circulation is currently 75,000 - 25,000 sold and 50,000