Pearson today announced that it has reached agreement with the Japanese Nikkei for the sale of the FT group, which owns the Financial Times, for about EUR 1.2 billion (1.3 billion dollars).
The sale does not include the 50% stake that Pearson has the Economist group, not the properties in London, said the company.
“We have reached a turning point in the ‘medium’, taken the explosive growth of mobile and social, “said the chief executive of Pearson, John Fallon said in a statement.
” In this new environment, the best way to ensure the commercial and journalistic success of the FT is part of and a global digital media company, “he added.
First published in 1888, the circulation of financial newspaper reached 720,000 last year, with digital subscriptions accounting for 70% of the total.
Evercore, Goldman Sachs and JP Morgan Cazenove were the financial advisors in the business of Pearson
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