The Independent newspaper in England is reporting in its Sunday newspaper that some shareholders are pressuring Pearson PLC to sell The Financial Times newspaper. Pearson is expected to report financial results on Monday that show that the newspaper made a profit after years of losses.
This wire report noted: “Axa Investment Management, which owns a 2.2 pct stake, is urging management to sell the paper, the Independent claimed, and others are pushing for a sale behind the scenes.
“‘It certainly has few earnings to value, but it is hard to imagine it does not have some trophy asset value,’ Axa fund manager Richard Marwood told the Independent.
“The company’s leading investor, US fund manager Franklin Templeton, first backed an FT sale last year.”