Pearson Could Sell FT
Shares in Pearson, publisher of the Financial Times have reached a five year high, amid speculation that the FT could be sold off or that there could be a US buyout of the entire group.
Shares had reached 835.5p as of 9am today, a five year high following an increase of 24.5p yesterday.
The Financial Times made £5 million profit in the first half of 2006, with advertising revenues up 11% and circulation up 5% in the same period (see Financial Times Makes £5 Million Profit).
Marjerie Scardino, Pearson chief executive, has previously said that the FT will not be sold, however, a report in today’s Daily Mail claims that the FT and its website will be put up for sale at around £650 million.
Meanwhile, the Daily Express reports that Kohlberg Kravis Roberts, the New York based private equity firm, is considering an approach for Pearson.
