Financial Times Energy undergoing major changes, consolidation.

Changes at the Financial Times Energy (FTE), which has more than 25 energy-related newsletters, have resulted in the departure of publisher Cindy Carter from its Arlington, Virginia office and the consolidation of many of its operations to Boulder, Colorado.

ETF, a wholly owned subsidiary of the London-based international media group Pearson PLC, bills itself as the "world's most comprehensive provider of global energy industry news, data, information, and analysis."

EFT's Arlington operation included the publication and conferences it purchased from Tod Sedgwick's Pasha Publications in 1998 for a reported $17.8 million. These publications included Gas Daily, Coal Outlook, Megawatt Daily, and another 20 newsletters and special reports.

After the sale to Pearson's EFT, Sedgwick became managing director of EFT's United States newsletters but left after about a year when Carter took over the U.S. operation as publisher. Carter had previously worked for Pearson when she was group publisher at Capitol Publications in Alexandria, Virginia. Capitol was sold by Pearson to the Netherlands-based Wolters Kluwer in April 1998.

During the past several years Pearson has added to its London-based publishing operation by the expansion of EFT in the U.S. Besides Pasha, it acquired Resource Data International (RDI) in Boulder. Ron McMahon, who had run the RDI operation after it was acquired, has also left.

FTE's most recent acquisition was a little more than a year ago, when it purchased E SOURCE Inc., an information service company which provided independent analysis of retail energy markets, services, and technologies. E SOURCE was purchased from the Rocky Mountain Institute for $18 million.

Many in FTE's Arlington office were dismissed with the exception of the editorial staff which will remain in place. The customer and fulfillment services will be handled out of Boulder.

The various companies that made up the FTE network had functioned fairly autonomously until recently, but it is reported that FTE will consolidate and vertically integrate the company with many operations centralized in Boulder.

The FTE operation is now run by Wayne Greenberg, who was president of E SOURCE before its sale last year. Prior to joining E SOURCE in early 1997, Greenberg was president of Shepard's/McGraw-Hill, the legal publishing arm of McGraw-Hill.