Anyone want to buy a pink newspaper? Because according to several rumors, The Financial Times is going to be up for sale soon. The Wall Street Journal reports that the departure of Pearson’s CEO Marjorie Scardino will bring about the paper’s sale.
The working theory is that Pearson is mostly focused on its education business, and could use the capital gained by selling off the FT (and Penguin Books) to acquire additional education-centric assets and build new products. Scardino has long been seen as the only stumbling block to a FT sale. She once she said that the paper would only be sold “over my dead body.” Something tells us a deal like that would be highly unethical.
Experts say that the FT could fetch as much as $1 billion, so who would line up to take that on? The usual suspects: Bloomberg LP, News Corporation and Reuters.
Also, anyone else who likes pink and has loads of cash. We’re looking at you, Paris Hilton.