Pearson PLC plans to sell its 50 percent stake in The Economist magazine, reports Simon Zekaria of The Wall Street Journal.
Zekaria writes, “The Economist, historically called a ‘newspaper’ and edited continuously from London since it was founded in 1843, posted an operating profit of £60 million in the fiscal year ended March 31, up 2% year-over-year.
“The group’s businesses include data research firm Economist Intelligence Unit as well as other related assets such as the Economist Events and The Economist Corporate Network.
“The holders of the Economist Group’s remaining 50% stake are a diverse group including Cadbury, Rothschild, Schröder, other family interests, and a number of existing and former staff.
“Nonexecutive board members— Lynn Forester de Rothschild, Evelyn de Rothschild and John Elkann—have a ‘significant’ number of shares, the group says.”
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