The publishing and education company Pearson confirmed today that it is to sell the Financial Times to the Japanese financial newspaper Nikkei.
Nikkei announced the deal in an email to its subscribers this afternoon, and the sale was confirmed in a statement from Pearson.
“Pearson has been a proud proprietor of the FT for nearly 60 years, but we’ve reached an inflection point in media, driven by the explosive growth of mobile and social,” John Fallon, the chief executive of Pearson, said.
“In this new environment, the best way to ensure the FT’s journalistic and commercial success is for it to be part of a global, digital news company.”
Confirmation of the £844 million deal followed hours of speculation and confusion, starting when the Reuters