London: In an announcement made on Thursday, British publisher Pearson said that it had agreed to sell its flagship business daily, Financial Times, to the Japanese media group Nikkei.
It has been said that the FT Group, which includes FT.com as well, was being sold by Pearson for £844 million (($1.31 billion) in cash. The agreement, however, does not include FT Group’s 50% stake in The Economist Group, owner of The Economist Magazine.
Nikkei describes itself as the largest independent business media group in Asia. The group, which has owned the salmon pink-paged newspaper for nearly 60 years, is due to report results on Friday.
