Following reports that started with Bloomberg on Monday, Pearson announced that it will sell the FT Group to Nikkei for £844 million (or about $1.3 billion at current conversion rates). The sale is expected to close in the fourth quarter, and does not include the FT’s London property at One Southwark Bridge and Pearson’s 50 percent stake in The Economist Group. (At one point, during the constant speculation on whether Pearson would ever sell the FT, they were said to be looking for closer to £1 billion.) According to reports the FT pension fund has been underfunded, and Pearson acknowledged they expect to contribute “around £90 million” after the […]
