OLD Media Moves

Pearson CFO won’t rule out sale of Financial Times

November 14, 2012

Posted by Chris Roush

Pearson Plc said Wednesday  it wouldn’t rule out a sale of the Financial Times as Chief Financial Officer Robin Freestone told investors that the company may eventually re-examine its ownership of the newspaper.

Amy Thomson and Kristen Schweizer of Bloomberg News report, “‘We look at the ownership of that and say, ‘Are we the best owners for it?’’ Freestone said at a conference in Barcelona organized by Morgan Stanley. ‘So far the answer is yes. That could change.’

“Pearson is emphasizing its education business as new Chief Executive Officer John Fallon prepares to take the reins from Marjorie Scardino, who retires in January. The company has decided to consider offers for the iconic pink financial newspaper this year, people with knowledge of the situation told Bloomberg News this month. Pearson had denied that the FT is for sale.

“Pearson may also ultimately re-evaluate its minority holding in a venture being set up with Bertelsmann SE to combine the German media company’s Random House with London-based Pearson’s Penguin publisher, Freestone said.”

Read more here.

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