Pearson has confirmed that it is in talks to sell the respected international financial newspaper The Financial Times. According to reports, the buyer would be German publisher Axel Springer.
Pearson issued a statement today, confirming media speculation that it is “in advanced discussions regarding the potential disposal of FT Group although there is no certainty that the discussions will lead to a transaction.”
According to Reuters, the FT, famed for being printed on pink paper, has itself reported that Axel Springer will be the buyer. Other potential buyers included Reuters and Bloomberg.
Although Axel Springer is based in Germany, 43 percent of its revenue comes from outside Germany, notes The Guardian. The publisher, which owns the German tabloid Bild, has made it clear in the past that they want to break into the English-speaking world.
Pearson, one of the world’s largest textbook publishers, has owned the FT for the past 58 years. The FT began publishing in 1888 and Pearson’s FT Group also included a 50 percent stake in the weekly newspaper The Economist.
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