MEXICO CITY (CNNExpansión) – The Nikkei Japanese group agreed to buy FT Group, owner of the Financial Times, the British publishing conglomerate Pearson for 844 million pounds (1,310 million dollars) in cash, the companies said Thursday.
The agreement does not include the 50% of FT Group in The Economist.
“Our motto is to provide high quality economic news and other, maintaining the fairness and impartiality, is very close to the FT. We share the same journalistic values. Together, we will strive to contribute to development of the global economy, “said Tsuneo Kita, president and CEO of Nikkei.
“In this new environment, the best way to ensure journalistic and commercial success of the FT is to be part of a global digital news. Pearson will now be 100% focused on its strategy of global education “he said for his part John Fallon, chief executive of Pearson.
The sale of FT Group had been the subject of speculation. Among the potential buyers were mentioned Bloomberg, Thomson Reuters and the German group Axel Springer.
Person said that the circulation of the Financial Times, founded in 1888, has grown 30% in the last five years. FT Group had sales of 334 million pounds in 2014 and had ganancais operational for 24 million pounds.
The deal is subject to regulatory approval. Pearson expected to be completed in the fourth quarter of this year.
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