Categories: OLD Media Moves

FT being shopped in China

Doug Young of The South China Morning Post writes that the parent company of The Financial Times is looking for a buyer in China.

Young writes, “But what I find most intriguing is the fact that Pearson might even consider selling one of its crown jewels to a Chinese buyer, which perhaps reflects just how difficult the market has become for print publications that once ruled the global media market. Pearson’s advisers looking in China also highlights the fact that Chinese media are one of the few global groups in the sector that is relatively cash rich, since many of the nation’s biggest media groups have near-monopoly status in their local markets and often have highly diverse holdings that run the range from print, to broadcasting and new media assets.

“The Financial Times saga first burst into global headlines last fall, when media reported that Pearson was looking to sell the paper and the most likely buyers would include financial media groups Thomson Reuters and Bloomberg, as well as Rupert Murdoch’s News Corp, owner of the Wall Street Journal and Dow Jones Newswires. Later reports about a month ago indicated that Bloomberg was indeed interested, but it’s unclear if those talks ever went anywhere.

“My guess is that this sniffing around for interest from China indicates that any Bloomberg talks have either stalled, or perhaps Pearson’s advisers are trying to start up a bidding war. According to my source, his company, one of China’s top media groups, was recently approached by third-party consultants acting on Pearson’s behalf to see if they had any interest in a potential bid for the Financial Times.”

Read more here.

Chris Roush

Chris Roush was the dean of the School of Communications at Quinnipiac University in Hamden, Connecticut. He was previously Walter E. Hussman Sr. Distinguished Professor in business journalism at UNC-Chapel Hill. He is a former business journalist for Bloomberg News, Businessweek, The Atlanta Journal-Constitution, The Tampa Tribune and the Sarasota Herald-Tribune. He is the author of the leading business reporting textbook "Show me the Money: Writing Business and Economics Stories for Mass Communication" and "Thinking Things Over," a biography of former Wall Street Journal editor Vermont Royster.

Recent Posts

Is this the end of CoinDesk as we know it?

Former CoinDesk editorial staffer Michael McSweeney writes about the recent happenings at the cryptocurrency news site, where…

4 hours ago

LinkedIn finance editor Singh departs

Manas Pratap Singh, finance editor for LinkedIn News Europe, has left for a new opportunity…

1 day ago

Washington Post announces start of third newsroom

Washington Post executive editor Matt Murray sent out the following on Friday: Dear All, Over the last…

2 days ago

FT hires Moens to cover competition and tech in Brussels

The Financial Times has hired Barbara Moens to cover competition and tech in Brussels. She will start…

2 days ago

Deputy tech editor Haselton departs CNBC for The Verge

CNBC.com deputy technology editor Todd Haselton is leaving the news organization for a job at The Verge.…

2 days ago

“Power Lunch” co-anchor Tyler Mathisen is leaving CNBC

Note from CNBC Business News senior vice president Dan Colarusso: After more than 27 years…

2 days ago