British publishing house Pearson announced that the Financial Times, a respected business magazine with a 127-year tradition, has been sold to Japanese media company Nikkei, reports the Patria news agency.
According to speculation that emerged before the announcement of the transaction, the most likely buyers were Reuters, Bloomberg, and Germany's Axel Springer.
-Pearson has been the owner of the Financial Times for 60 years. But we have reached a turning point, due to the strong growth of 'mobile and social'. In this new environment, the best way to ensure the further journalistic and commercial success of the Financial Times is to be part of a company that deals with digital news," said Pearson CEO John Fallon.
The value of the transaction is 1.3 billion dollars.
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