CNBC/Financial Times makes a lot of sense

Phil Rosenthal of The Chicago Times writes Friday that in the wake of the decision by their parent companies not to make a bid for Dow Jones & Co., the parent of The Wall Street Journal, having CNBC and The Financial Times work together makes a lot of sense.

Rosenthal wrote, “Pearson’s Financial Times division faces a much more concrete threat if Murdoch acquires Dow Jones and infuses it with News Corp.’s global reach and ambitions. Pearson already was said to be thinking about whether the Financial Times division meshes with its core educational publishing business. Competing with a Dow Jones on steroids would, no doubt, raise even more doubts.

“So, having decided not to spin off CNBC and Financial Times so the joint venture could make a run at Dow Jones, GE and Pearson are wisely trying to figure out what they can do to help each other in other ways.

“Sources say this could take the form of a Financial Times content deal for CNBC’s international channels and Web site, along the lines of what it has with the Wall Street Journal in the United States. Or, in the event of a negotiated divorce from a Murdoch-controlled Journal, an even more wide-ranging agreement.

“Even if Murdoch doesn’t get Dow Jones, the idea of CNBC and the Financial Times sharing at least some resources frankly makes tremendous sense for both media outlets.”

Read more here.