Financial Times Selling to Nikkei

Pearson is selling the Financial Times to the Japanese media group Nikkei for £844m in cash. The British company will hold onto FT Group’s 50pc stake in the Economist. It will also keep its building on the south bank of the Thames.

As Pearson’s chief executive, John Fallen, said, “Pearson has been a proud proprietor of the FT for nearly 60 years.

“But we’ve reached an inflection point in media, driven by the explosive growth of mobile and social. In this new environment, the best way to ensure the FT’s journalistic and commercial success is for it to be part of a global, digital news company.”

Read the whole story and more on the agreement.

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