The news comes after Pearson decided to scrap its own plans to bid for
The Wall Street Journal as part of an alliance including General Electric, owner of CNBC.
Yesterday’s Observer quoted media analyst Lorna Tilbian, as saying: “The way I see things, it was double or quits for Pearson. They had a chance to buy a principal competitor, but it hasn’t come off. Now they should sell the FT at a time when the financial advertising market is strong and the paper is doing well.
“There is a danger that Murdoch will do to the FT what his newspapers in Britain have done to their competitors. Look at what the Times has done to the Telegraph or the Sun to the Mirror. The competition has been harsh. Does Pearson want that?”
Meanwhile, reports in the US media today suggest that Murdoch is close to agreeing terms to protect the editorial independence of the Wall Street Journal’s editorial independence.
News Corp has been negotiating with the Bancroft family, which controls 64% of shareholder votes, since it made its initial $5 billion bid for Dow Jones (owner of The Wall Street Journal).
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