OLD Media Moves

FT parent considers selling financial data business

January 15, 2010

Mark Sweney of The Guardian in London reports that Pearson Plc, the parent of The Financial Times, is considering options for its financial data operations, and likely bidders are other companies with business journalism operations.

Sweney writes, “Its stake, 61% of a business valued at $2.4bn, was acquired in 2000. One option that Pearson is considering is a sale of the business.

“‘Following recent press reports, Pearson and Interactive Data Corporation are today confirming that the board of Interactive Data is currently undertaking a preliminary review of strategic alternatives for the company,’ said a spokesman for Pearson. ‘Pearson and Interactive Data can give no assurance on the potential outcome or timing of this review process, and do not intend to make any further statements unless and until it becomes appropriate to do so.’

“One report says that IDC, which has been looked at by private equity groups in the past, would be a good fit for financial data groups including Bloomberg, Thomson Reuters and McGraw-Hill.”

Read more here.

Subscribe to TBN

Receive updates about new stories in the industry daily or weekly.

Subscribe to TBN

Receive updates about new stories in the industry.