Home Business NewsBusiness The Financial Times could be sold for a whopping £1bn

The Financial Times could be sold for a whopping £1bn

by LLB Editor
21st Jul 15 10:47 am

Pearson PLC, the parent company of the 127-year-old newspaper the Financial Times, is mulling a sale of the business broadsheet.

According to Bloomberg, the sale could value the newspaper at a whopping £1bn.

Among the interested buyers are Axel Springer SE and other investors in Europe, the Middle East and Asia.

Alex DeGroote, an analyst at Peel Hunt, told Bloomberg: “It’s [The Financial Times] a classic trophy asset, it has cachet. If Pearson can get £1bn for the FT I will eat my hat.”

In 2014, the Candy brothers and India’s richest man Mukesh Ambani were rumoured to be interested in snapping up the paper.

The FT has over 500,000 digital subscribers. Pearson, which reported an adjusted operating profit of £106m on a £1.2bn last year, doesn’t publish separate profit and loss figures for the FT.

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