Tuesday 24 October 2017

Media giant Pearson considering sale of Financial Times

The Financial Times
The Financial Times
Donal O'Donovan

Donal O'Donovan

Media giant Pearson Plc is considering selling the Financial Times, its iconic newspaper brand, on the back of interest from potential buyers, according to news service Bloomberg.

UK-based Pearson is listed on the London Stock and is valued at more than £10bn (€14bn). Shares were up more than 5pc today as reports of a possible disposal circulated.

The Financial Times group, which includes a number of publications and the FT.com website is worth an estimated £1bn.

German publisher Axel Springer and private investor in Asia and the Middle East are tipped as possible bidders.

Data providers Bloomberg and Thomson Reuters have both previously been linked to possible bids for the Financial Times in the past.

Last year 70pc of the Financial Times 720,000 circulation was through paid digital subscriptions.

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