Financial Times may be up for grabs

July 20, 2015
Category: Uncategorized

Bloomberg

Financial Times, the salmon-colored daily with a focus on international business and commerce, is being shopped around by its owner, according to a report from Bloomberg.

Pearson PLC, the British multinational publishing company that has owned the paper for decades, is said to be courting interest from a number of potential buyers, according to the report. Per Bloomberg, likely suitors are Germany-based publishing giant Axel Springer SE (which has recently gone into business with Politico) and other investors scattered throughout the world.

The sale of the Financial Times would make waves in media circles because of its prominence, quality and forward-looking digital strategy, said Rick Edmonds, Poynter’s media business analyst.

“It’s a very big deal because some polls rate the Financial Times the best newspaper in the world,” Edmonds said. “It’s extremely well-written, and they’ve had an excellent digital strategy over the years. So cross your fingers that it stays in good hands.”

Bloomberg’s report says the possible sale might be precipitated by a turbulent international market for Pearson’s education products:

Discussions over a disposal, which have been on and off for years, have heated up as Chief Executive Officer John Fallon focuses on tackling a slowdown in the education unit weighed on by declining U.S. college enrollments and falling textbook sales. No final decision has been made and Pearson may decide to keep the newspaper, the people said.