It's a bleak day for journalism. Mr. Market and his idea that everything and anything can be bought if you pay enough has triumphed: Even so, news that the U.K. company Pearson has accepted £844 million (or $1.3 billion) in cash from Japan's Nikkei for the Financial Times is depressing.
The Financial Times (FT to everyone) is everything that Nikkei is not: international where Nikkei is national; cosmopolitan and even eclectic in its coverage where Nikkei concentrates on business, finance and economy; frequently questioning and criticizing its own and other governments, where Nikkei ducks challenging Japan Inc.
I must confess a vested interest. After being taught by The Guardian to "mean every word that you write," I joined the FT. Indeed, the FT today provides me with a small monthly pension, just enough for two tall cafe lattes a day, with the luxury of a grande on Sundays.