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Pearson shares jump as group sells Financial Times for £844 million to Japanese media firm

Friday, July 24, 2015

Shares in Pearson plc have rocketed since the publishing company confirmed its sale of the FT Group to Japanese media company Nikkei for £844 million.

The sale includes the Financial Times newspaper, FT.com, How to Spend It, FT Laps, FTChinese, the Confidentials and Financial Publishing.

Pearson, a large and well-established outsourcing buyer, has retained its 50 per cent stake in the Economist. The transaction still needs to go through a number of regulatory approvals and is expected to close within the final quarter of 2015.

John Fallon, CEO of Pearson, said in a statement: “Pearson has been a proud proprietor of the FT for nearly 60 years. But we’ve reached an inflection point in media, driven by the explosive growth of mobile and social. In this new environment, the best way to ensure the FT’s journalistic and commercial success is for it to be part of a global, digital news company.

“Pearson will now be 100 per cent focused on our global education strategy. The world of education is changing profoundly and we see huge opportunity to grow our business through increasing access to high quality education globally.

“Nikkei has a long and distinguished track record of quality, impartiality and reliability in its journalism and global viewpoint. The board and I are confident that the FT will continue to flourish under Nikkei’s ownership.”

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