Saturday, July 25, 2015

Pearson in Talks to Sell Economist Stake – Wall Street Journal

Pearson PSO -1.68 % PLC said Saturday that it is in talks over the potential sale of its 50% stake in The Economist Group, just days after the U.K.-based publisher and education specialist agreed to sell its Financial Times newspaper.

Responding to recent press speculation, the publisher said: "Pearson confirms it is in discussions with The Economist Group Board and trustees regarding the potential sale of our 50% share."

It added, "there is no certainty that this process will lead to a transaction."

Pearson said Thursday it would sell FT Group, which includes the Financial Times newspaper, to Nikkei Inc. of Japan for £844 million ($ 1.32 billion).

A sale of its non-controlling stake in The Economist Group—a well-known business publisher—would mean Pearson was jettisoning two of its flagship media assets to sharpen its focus on its core education businesses.

In February, Pearson said The Economist's circulation was 1.6 million.

Write to Simon Zekaria at simon.zekaria@wsj.com

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