OLD Media Moves

Financial Times not likely to be sold

May 16, 2006

The Financial Times, which has been rumored as being for sale for several years, isn’t likely to be sold now that new management is running the operation, the Times of London reported Tuesday. Their reasoning? The new person running the newspaper business would be in line to replace CEO Marjorie Scardino.

Times media editor Dan Sabbagh and Rhys Blakely write, “The poor profitability of the titles had led to some calls that Pearson should concentrate on its world leading educational publishing unit, but with a chief executive-elect in place, it is hard to imagine her doing herself out of a job by selling the business she is supposed to run.

“Taking on a wider role than M Fleurot’s, Ms Fairhead, who joined Pearson in 2001 from ICI, the chemicals group, will have responsibility for ‘pulling together different parts [of Pearson’s business] in the digital age,’ a spokeswoman for Pearson said.

“As well as the FT, Ms Fairhead will have responsibility for Pearson’s international business newspapers and financial magazines as well as Interactive Data Corporation, which provides information on financial markets.”

Read more here.

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