News Corporation has sold its TSL Education division to Exponent Equity for £235 million, marking the first disposal of owner Rupert Murdoch’s newspaper titles since he entered the market 36 years ago.
The deal will see News International continue to print and distribute
The Times Educational Supplement and
the Times Higher Supplement, with the sale including various websites and exhibitions aimed at teachers and education professionals.
Speculation surrounding the sale of TSL Education began in July when a report in the Financial Times, claimed that Murdoch had discussed the potential disposal of the assets at a News Corporation board meeting in London (see City).
Emap and the Guardian Media Group (GMG) were reported to be interested in TSL Education, however, after they both dropped out the contest was between Exponent, Apax Partners and Candover.
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