Pearson Denies ‘The Financial Times’ Is for Sale

Pearson says a Bloomberg News report is 'wrong'

   

Pearson Denies ‘The Financial Times’ Is for Sale

stock pages glasses 630 freefoto 300x200 Pearson Denies 'The Financial Times' Is for SalePearson (NYSE:PSO), the U.K. publishing firm that owns The Financial Times, has publicly denied a report from Bloomberg News that said the venerable newspaper, famed for its pink pages, is up for sale.

The disputed report said Pearson was contemplating potential bids for the paper in the wake of Marjorie Scardino’s decision to step down as CEO, The New York Times noted. Scardino will be succeeded as CEO by John Fallon, who headed the company’s education unit.

man on bench looking at stock prices newspaper 630 200x200 Pearson Denies 'The Financial Times' Is for Sale
Newspapers Are Hot Stocks — No, Really

In a  statement, Pearson said that while it didn’t normally respond to rumors about its business, the Bloomberg report was “wrong.”

Analysts say The Financial Times has markedly slower growth than Pearson’s education business. According to the Bloomberg report, Bloomberg, Thomson Reuters and News Corp (NASDAQ:NWSA) were among possible suitors for The Financial Times.

Shares of Pearson fell more than 1% in Wednesday morning trading in New York.


Article printed from InvestorPlace Media, http://investorplace.com/2012/11/no-bloomberg-the-financial-times-is-not-for-sale/.

©2014 InvestorPlace Media, LLC

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