Newspaper article International New York Times

Pearson Aims to Sell Stake in Economist Parent Group

Newspaper article International New York Times

Pearson Aims to Sell Stake in Economist Parent Group

Article excerpt

The British education company is in discussions to sell its 50 percent share, but said in a statement that "there is no certainty" of a transaction.

Pearson, the British education company, said that it was in discussions to sell its 50 percent stake in the Economist Group, the publisher of The Economist magazine.

"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," it said in a statement on Saturday. "There is no certainty that this process will lead to a transaction."

Pearson also owns the Financial Times, but announced late last week, after releasing a similar statement, that it had reached a deal to sell the newspaper to the Japanese company Nikkei for 844 million pounds, or about $1.3 billion. It said that it wanted to focus on its core education business.

The discussions involving The Economist, The Financial Times reported, are focused on other shareholders, including wealthy families like the Schroders, the Cadburys and the Agnellis. …

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