Tuesday, March 21, 2023
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Pearson in talks to buy FT newspaper

The company claimed that it “noted recent press speculation” regarding the possibility of selling the FT however, it added it was “no certainty” that the discussions would result in the conclusion of a deal.

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Rumours about the sale surfaced on Monday. shares of the group have risen by over 2 percent in response to the news According the the BBC.

Pearson’s statement said that the company would issue another public announcement “if and when appropriate”.

This could happen in a matter of hours, as per German paper Der Spiegel, which reported that German newspaper’s publisher Axel Springer was the unnamed company that was in talks to purchase Financial Times. Financial Times from Pearson.

The paper mentioned a source from Axel Springer who said the talks were “well advanced” and the outcome could be clear by the close of the day.

The paper also reported that three bidders had being considered up to Wednesday. Other publishers that are linked to the deal are Bloomberg along with Thomson Reuters.

There are reports that Pearson which holds an enormous stake in publication Penguin Random House, could sell the newspaper company for approximately PS1bn. The newspaper has long believed that it was that the paper was ready for sale.

The company that publishes the newspaper has been expanding its reach towards the provision of educational services both in North America and in emerging markets. It has said previously that it was loyal to the newspaper because of its brand’s strength.

In addition to in addition to the Financial Times paper, the FT group also includes Financial Times Business, the group’s publishing company for business to business which is which is a joint venture with Russian business publication Vedemosti and 50% stake of The Economist magazine.

Jasper Lawler of CMC markets claimed that the discussions were “counterintuitive”, given that Pearson’s spokespeople had previously stated that selling the paper was not a part of the strategy of the group.

He said that Financial Times was one of the very few newspapers which had been able to make the transition smoothly into a subscription-based or paywall-based business model.

Financial Times Financial Times, which launched in 1888, is the combined circulation in digital and print of 720,000. 70 percent of which is driven by its website.

The newspaper’s digital subscriptions surpassed circulation for print in 2012 while smartphones and tablets are responsible for around 50 percent of the traffic on the site.

The announcement of sales talks is made just one day prior to the announcement of Pearson’s half-year earnings.

In the year that was last, the company that gets 90% of its revenue from its publishing business for educational books and recorded the company suffered a 12.5 per cent drop in net profits to PS471m due to the cost of restructuring and fluctuations in currency.



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