Murdoch Sells Education Titles For £235 Million

Rupert Murdoch’s News International has offloaded its subsidiary firm TSL Education, publisher of the Times Educational Supplement, in a deal worth £235 million.

The company has been sold to Exponent Private Equity following a lengthy bidding process involving Emap and Guardian Media Group

Amongst the properties now owned by Exponent Private Equity are The Times Educational Supplement, The Times Higher Educational Supplement and several smaller publications, including Nursery World.

The deal, which is Murdoch’s first sale of any newspaper interests, will see News International continue to print and distribute The Times Educational Supplement and The Times Higher Education Supplement. The publisher will also operate the titles’ financial services.

Details of News International’s intentions to sell its education titles first surfaced in July, following reports that the company’s education business was valued at around £250 million (see News International To Sell Education Titles).

It is believed that the funds from the sale will enable News International to focus investment on its raft of national newspapers, including, The Sun, The Times, News of the World and the Sunday Times.

News International: 020 7782 3922 www.newscorp.co.uk