Financial Times sold to Japan's Nikkei for £844m
Published 23/07/2015 | 11:20
British publisher Pearson has decided to sell the Financial Times to Japan's business media group Nikkei Inc for £844m (1.2bn), it announced today.
The deal did not include the 50pc stake in The Economist magazine.
The FT Group contributed £334m of sales and €24m in adjusted operating profit last year.
Nikkei describes itself as the largest independent business media group in Asia.
Earlier it had been reported that the talks centred around a sale to German publisher Axel Springer
Pearson, which has become the world's leader in educational publishing, the group said earlier today.
Its shares gained again today, up nearly 2pc, having risen earlier in the week.
The group, which has owned the salmon pink-paged newspaper for nearly 60 years, is due to report results on Friday.
Pearson has a market cap of over £10bn.
Nikkei describes itself as the biggest independent business media group in Asia