Pearson Ltd. has sold its 50% share of The Economist to the Italian investment group Exor S.p.A. and existing shareholders. Turin-based Exor increased its stake in the company from 5% to 43%. The Economist Group is valued at £950 million. EUI members can join the Library subscription to The Economist and other publications via the economic news directory.
Nikkei Inc., the biggest business media company in Japan, announced the acquisition of The Financial Times (FT Group) from Pearson Ltd for £844 million, on the 23rd of July. EUI members can join the FT.com premium subscription via this Library page. The FT reported: “Pearson has for the past few weeks been exploring a sale of the group, which comprises the Financial Times, a number of related titles and a 50 per cent stake in the Economist Group, publisher of the Economist magazine. The deal includes the FT newspaper, FT.com, and titles such as The Banker and Investors Chronicle. But the agreement does not include the FT Group’s London headquarters at One Southwark Bridge and the Economist stake.” More economic news resources at the EUI.