Pearson 'In Discussions' To Sell Share In The Economist
Pearson states it is 'in discussions' to sell its 50% share in The Economist magazine.
The Financial Times was sold by Pearson last month to Nikkei for £844M.
Pearson has now confirmed that it is also 'in discussions' to sell its 50% share in The Economist.
The announcement, made by Pearson, stated: Pearson confirms it is in discussions with The Economist Group Board and trustees regarding the potential sale of its 50% share in the Group. There is no certainty that this process will lead to a transaction. We will make further announcements if and when appropriate.
The Economist is part of Pearson's professional division.
Pearson's recently announced half-year results showed that the professional division saw an operating profit of £38M for the six months.
This was a year on year increase from £29M. Pearson's professional division's turnover was also up from £519M to £553M.
The Economist recorded an average weekly circulation of 223, 915 in the second half of 2014 in the UK, which was a 1.3% increase.
50% of The Economist is owned by Pearson, while the other 50% is owned by independent shareholders.
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