First it sold the Financial Times, now Pearson is selling the Economist

Publisher looking to offload its 50% stake in the magazine

Pearson is planning to sell its stake in the Economist, after flogging the Financial Times for £844m last week.

Its 50% stake is worth a reported £400m – giving the Economist about the same value as the FT, despite its much higher profits.

Last year, the Economist made £60m in operating profit, compared with £24m at the FT, which was bought by Japanese publisher Nikkei on Thursday.

Pearson revealed it would be selling the magazine to focus on educational publishing, but as it only owns half of the Economist the sale is likely to be more complicated than that of the newspaper.

Other shareholders in the magazine include families Cadbury, Rothschild, Shroder and Agnelli.

NOW READ

Lord Sewel

Lord Sewel scandal: 69-year-old peer rages at Cameron, Blair, and Corbyn while wearing prostitute’s bra

London Underground Tube 1970s

Did a serial killer push 18 people to their deaths on the Tube in the 1970s?

Social Bookmarks