Financial Times was sold to a group of Japanese media Nikkei – ElEspectador.com

British publisher Pearson announced that it has completed the sale of business newspaper “Financial Times” Japanese daily Nikkei Inc 844 million pounds (1,200 million euros).

In a statement to the London Stock Exchange, Pearson, one of the largest publishers in the world and leader in the field of education, says “The transaction is subject to a number of approvals and expected to close in the fourth quarter of 2015″.

The agreement between Pearson, founded in 1844 and owner of the “Financial Times” for almost 60 years, and the Japanese business daily Nikkei does not include the sale of the headquarters of the FT in central London or 50% stake in Pearson “The Economist” group.

In addition to the Daily and its website, the operation, which was confirmed in a day which was rumored to Axel Springer and Bloomberg, plus Nikkei, as potential buyers include publications Investors Chronicle, The Banker, MandateWire, Money-Media and Medley Global Advisors.

“Pearson has been a FT proud owner for nearly 60 years. But we have reached a turning point in the media , driven by the growth of mobile phones and social networks, “said Jim Fallon, chief executive of the British publishing company in the statement.

“In this new environment, the best way to ensure journalistic and commercial success is part of a global news company. Nikkei is longtime reference medium, known for their quality, fairness and truthfulness in journalism. The board and I are confident that the FT will continue to grow with Nikkei, “said Fallon.

Meanwhile, the president and chief executive of the Japanese group, Tsuneo Kita, was” extremely proud of joining the Financial Times, one of the most prestigious organizations around the world. “

” We share the same journalistic and together values ​​will strive to contribute to the development of the world economy, “said Kita.

After the statement, publisher Pearson shares rose 2.40% on the London Stock Exchange to 12.38 pounds (17.5 euros).

The “Financial Times”, which went on sale for the first time in 1888, has a joint movement between print and digital version -of payment- 720,000 copies.

The reputed newspaper began to charge for their content on their website in 2002 and today the majority of their subscribers are from outside the UK.

The digital subscriptions to the “Financial Times’ sales exceeded role in 2012 and today account for 70 percent of circulation.