Categories: OLD Media Moves

Pearson to explore sale of Financial Times

Pearson Plc is exploring a sale of the Financial Times after receiving interest from potential buyers, according to a Bloomberg story.

Kristen Schweizer, Manuel Baigorri and Ruth David write, “London-based Pearson is sounding out possible bidders for the salmon-colored newspaper, said the people, who asked not to be identified because the deliberations are confidential. A sale may value the business at as much as 1 billion pounds ($1.6 billion), two of the people said.

“While there is no formal process under way, the Financial Times may draw interest from media companies such as Axel Springer SE as well as investors in Europe, the Middle East and Asia, the people said.

“Pearson shares rose more than 5 percent intraday before closing 1.6 percent lower. The company has a market value of about 10.3 billion pounds.”

Read more here.

Chris Roush

Chris Roush was the dean of the School of Communications at Quinnipiac University in Hamden, Connecticut. He was previously Walter E. Hussman Sr. Distinguished Professor in business journalism at UNC-Chapel Hill. He is a former business journalist for Bloomberg News, Businessweek, The Atlanta Journal-Constitution, The Tampa Tribune and the Sarasota Herald-Tribune. He is the author of the leading business reporting textbook "Show me the Money: Writing Business and Economics Stories for Mass Communication" and "Thinking Things Over," a biography of former Wall Street Journal editor Vermont Royster.