Pearson CEO says Financial Times is not for sale

LONDON Mon Feb 25, 2013 8:57am EST

A copy of a Financial Times newspaper is displayed for sale in a newsagent in central London July 28, 2008. REUTERS/Alessia Pierdomenico

A copy of a Financial Times newspaper is displayed for sale in a newsagent in central London July 28, 2008.

Credit: Reuters/Alessia Pierdomenico

LONDON (Reuters) - The new chief executive of British education and media group Pearson said the Financial Times (FT) is not for sale, refuting repeated media speculation about the newspaper's future at the company.

"The FT is a valued and valuable part of Pearson. I have said the business is not for sale, nor have we initiated, conducted, encouraged in any shape or form, any sort of process whatsoever, nor have I had any conversations with anybody about the sale of the FT," Chief executive John Fallon said when asked about the newspaper on a call with reporters on Monday.

The company said earlier it expects this year's earnings to be flat on 2012 and it will start a 150 million pound restructuring plan.

(Reporting by Sarah Young; editing by Rhys Jones)

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Comments (1)
Why would Pearson ever sell a property that was as valuable and influential as the Financial Times? I would assume that the FT is a profitable segment of the larger firm and it would be difficult to see where an outside firm using the traditional methods of business competitiveness such as cost-cutting, would be able to add value to enhance a preeminent property. The Financial Times is really the only newssource in the world to collect the basic data for what is taking place on the globe financially.

Feb 25, 2013 10:56am EST  --  Report as abuse
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