FT says parent company Pearson in talks to sell stake in The Economist
LONDON — The Financial Times reports that its parent company, Pearson PLC, is in talks to sell its 50 per cent stake in The Economist magazine.
Screencap of The Economist website
LONDON — The Financial Times reports that its parent company, Pearson PLC, is in talks to sell its 50 per cent stake in The Economist magazine.
The FT said today (July 25) its report is based on people familiar with the negotiations.
Potential buyers of the Economist Group are not named.
Pearson is in the process of selling the FT Group, including the newspaper, to the Nikkei Group of Japan. The deal was announced Thursday.
The company has said it wants to focus on its education business.
Pearson acquired its stake in The Economist in 1957 as part of its acquisition of the FT. The paper says a sale of the Pearson stake would have to be approved by the Economist Group trustees. AP
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