Pearson commences talks to sell off majority stake in Economist
UK PUBLISHING empire Pearson is in talks to sell its 50 per cent stake in The Economist to the journal’s other shareholders, with Italy’s Agnelli family announcing an interest in increasing its stake.
The news comes shortly after Pearson’s sale of the Financial Times newspaper to Japanese media group Nikkei.
According to a statement released by the group on Saturday, the publishing house “confirms it is in discussions with The Economist Group Board and trustees regarding the potential sale of our 50 per cent share in the group”.
Pearson mentioned no potential buyers, and added there was no guarantee that talks “will lead to a transaction.”
The Agnelli family’s investment company Exor said later that day it was in talks about raising its 4.72 per cent stake. Other owners of the publication include the Cadbury, Rothschild and Schroder families.