AFP, London :
British publishing company Pearson said Saturday it was in talks to sell its 50-percent stake in The Economist Group, owner of the prestigious magazine of the same name.
“Pearson confirms it is in discussions with The Economist Group Board and trustees regarding the potential sale of our 50 percent share in the Group,” a Pearson spokesman said.
The announcement comes just two days after Pearson agreed to sell the Financial Times to Japanese media group Nikkei for o844 million ($1.3 billion, 1.2 billion euros), saying that it wanted to focus solely on the education publishing sector which accounts for most of its business.
Investment company Exor, controlled by the Italian Agnelli family which founded Fiat and owns the Juventus football club, said in a statement that it was “in discussion” to increase its five percent holding in The Economist Group but that any stake would remain below 50 percent.
“Were it to proceed, Exor’s increased investment would in any event represent a minority shareholding… reflecting Exor’s strong commitment to the editorial independence that lies at the heart of The Economist’s ethos and success,” the statement said.
British publishing company Pearson said Saturday it was in talks to sell its 50-percent stake in The Economist Group, owner of the prestigious magazine of the same name.
“Pearson confirms it is in discussions with The Economist Group Board and trustees regarding the potential sale of our 50 percent share in the Group,” a Pearson spokesman said.
The announcement comes just two days after Pearson agreed to sell the Financial Times to Japanese media group Nikkei for o844 million ($1.3 billion, 1.2 billion euros), saying that it wanted to focus solely on the education publishing sector which accounts for most of its business.
Investment company Exor, controlled by the Italian Agnelli family which founded Fiat and owns the Juventus football club, said in a statement that it was “in discussion” to increase its five percent holding in The Economist Group but that any stake would remain below 50 percent.
“Were it to proceed, Exor’s increased investment would in any event represent a minority shareholding… reflecting Exor’s strong commitment to the editorial independence that lies at the heart of The Economist’s ethos and success,” the statement said.
