Pearson Opts To Keep FT Business

Pearson has today ended speculation that it was prepared to sell its FT Business magazines by confirming that the titles are to be retained within the organisation.

A management team led by Stephen Hill, former chief executive of the Financial Times Group, had tabled a bid, believed to be in the region of £80 million, for FT Business.

However, following lengthy negotiations with its advisers, Lazard, Pearson has deduced that “FT Business is worth more as part of the FT Group than potential bidders were prepared to pay.”

As a result, Hill has now left the Financial Times Group and FT Business publications, which include Investors Chronicle, Money Management and Financial Adviser, will remain in the Pearson stable.

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