The Financial Times has decided not to contest an injunction from a judge that prevented the business newspaper from publishing information about a struggling bank that it had received.
Rachael Gallagher of The Press Gazette in London wrote, “Last Tuesday, a temporary seven-day injunction was put in place preventing publication of information in a Briefing Memorandum being distributed to potential investors, after more than 10 pages of it were published on a Financial Times website.
“Paul Murphy, editor of Alphaville at the FT, told Press Gazette that in a court hearing this morning the decision was made not to contest the injunction.
“He said: ‘Because of what has happened to Northern Rock and because the way the original story has helped fuel a huge political debate around Northern Rock, we said weâ€™re not going to contest the injunction.
“‘We donâ€™t see any benefit in terms of printing new information on something which is now completely historical. All the bids have come in for Northern Rock and thereâ€™s also been a boardroom clear out, so the story has moved on.'”
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