Pearson is negotiating to sell the Financial Times to German publisher Axel Springer, reports Henry Mance, Arash Massoudi and James Fontanella-Khan of the Financial Times.
Mance, Massoudi and Fontanella-Khan write, “The negotiations may not lead to a sale, according to the people close to the situation. Nikkei, the Japanese media group, has also had discussions with Pearson in recent weeks but the talks with Axel Springer are further advanced, according to two other people close to those talks. Nikkei declined to comment.
“A sale would catapult Axel Springer from a predominantly German publisher into a business with global reach, while enabling Pearson to concentrate its focus on education.
“Axel Springer, which publishes German tabloid Bild and quality title Die Welt, tried to buy the Daily Telegraph and the Daily Express more than a decade ago. Last year it backed the expansion of Politico into Europe highlighting its ambitions to expand beyond its traditional Berlin stronghold.
“Springer first approached Pearson about buying the FT about one year ago, said one person familiar with the matter.”
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