FT says parent company Pearson in talks to sell Economist
LONDON (AP) — The Financial Times reports that its parent company, Pearson PLC, is in talks to sell its 50 percent stake in the Economist magazine.
The report says the talks involve other shareholders in the Economist Group.
The FT said Saturday its report is based on people familiar with the negotiations. It did not indicate a sale is imminent.
Pearson is in the process of selling the FT Group, including the newspaper, to the Nikkei Group of Japan. The deal was announced Thursday.
The company has said it wants to focus on its education business.
Pearson acquired its stake in the Economist in 1957 as part of its acquisition of the FT. The paper says a sale of the Pearson stake would have to be approved by the Economist Group trustees.
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