Well that was fast. Just about an hour ago Pearson said it was in advanced talks to sell the Financial Times, and now we have word that a deal is done. Japanese newspaper company Nikkei Inc. is the buyer.
Nikkei Inc. publishes The Nikkei, the largest business-focused newspaper in Japan. The company will buy the FT, its site and Pearson’s stake in The Economist for roughly $1.3 billion.
In an announcement, Pearson CEO John Fallon said what many have been guessing — that Pearson wanted to sell the FT so it could focus on its more lucrative education properties.
“Pearson has been a proud proprietor of the FT for nearly 60 years,” said Fallon.
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