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Thursday, December 2, 2021

Financial Times owner Pearson ‘thinking of selling the newspaper’

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The owners of the Financial Times are considering selling the newspaper, according to reports.

Pearson PLC is said to be looking at possible buyers, with two unnamed sources claiming the FT could go for £1bn.

The Financial Times Group, a division of Pearson PLC, includes the paper, website, a 50% shareholding in The Economist and a joint venture with Vedomosti in Russia.

Media company Axel Springer SE has been named in reports as possibly having an interest but neither they nor Pearson have commented.

Alex DeGroote, an analyst at Peel Hunt, described the FT as “a classic trophy asset” but played down reports of the valuation.
“If Pearson can get £1bn for the FT I will eat my hat,” he told Bloomberg.

Shares in Pearson rose 5% yesterday but closed down.

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