Geoff Foster of the Daily Mail in England reports Thursday that Pearson Plc’s shares are trading higher amid speculation that the company will sell The Financial Times.
“Management buy-out and KKR break-up rumours also did the rounds, but buyers preferred to focus on the possibility of the City bible at last being offloaded. It returned to a £2m profit in 2005 after a reduction in costs and following a more benign advertising market helped it wipe out a loss of £9m incurred in 2004.
“Scardino has been at Pearson for 10 years and fund managers expect a corporate restructuring soon. She recently raised £286m from the sale of Pearson’s government arm which handles applications from US students for financial aid. If the FT was sold, analysts say it would boost earnings by 7% and enable Scardino to continue building a leading position in the US education business.”
Read more here.
In March 2002 she said the FT will be sold ‘over my dead body’. Now considered to be well past her sell-by date, shareholders are ready to force her hand.
The U.S. ambassador to the United Nations has lambasted Russia over its continued detention of…
Wall Street Journal editor in chief Emma Tucker sent out the following on Thursday: Today we announced…
Clare Malone of The New York writes about Hunterbrook, which is using reporting from journalists to…
The Hollywood Reporter awards editor Tyler Coates is leaving the news organization. His last day will be…
Laura Purkess has been promoted to consumer features editor at The Sun. She will maintain…
Pat Ferrier, senior business reporter at the Coloradoan in Fort Collins, is retiring after 23…