Pearson CEO: FT is not for sale

Sarah Young of Reuters is reporting that Pearson PLC has no plans to sell The Financial Times, as has been rumored.

Young writes, “The new chief executive of British education and media group Pearson said the Financial Times (FT) is not for sale, refuting repeated media speculation about the newspaper’s future at the company.

“‘The FT is a valued and valuable part of Pearson. I have said the business is not for sale, nor have we initiated, conducted, encouraged in any shape or form, any sort of process whatsoever, nor have I had any conversations with anybody about the sale of the FT,’ Chief executive John Fallon said when asked about the newspaper on a call with reporters on Monday.

“The company said earlier it expects this year’s earnings to be flat on 2012 and it will start a 150 million pound restructuring plan.”

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.