Pearson, the British education and media group, through its new CEO reiterated that the Financial Times is not for sale. This is in response to media speculation on the future of the newspaper.
According to John Fallon, "The Financial Times is a valued and valuable part of Pearson. I have said the business is not for sale, nor have we initiated, conducted, encouraged in any shape or form, any sort of process whatsoever, nor have I had any conversations with anybody about the sale of the FT."
The British firm said that it is projecting the earnings for 2013 to be flat and would start the implementation of a new GBP150 million pound restructuring plan for the company.
The issue came forth as Pearson's former CEO Marjorie Scardino had planned to sell the Financial Times but a spokesperson for Pearson, Charles Goldsmith squashed the speculation, saying the company was 'not in the habit of responding to rumors, speculation or reports about our portfolio, however this particular Bloomberg story is wrong.'
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