Pearson sells the ‘Economist’
Pearson has sold its 50% stake in the Economist Group for £469m (A$992m) to focus on its ‘global education strategy’, reports the Bookseller. The sale, which is split between two buyers— investment company Exor and the Economist Group—follows Pearson’s recent sale of the FT Group to Japanese newspaper and magazine publisher Nikkei Inc. Pearson chief executive John Fallon said in a statement: ‘Pearson is now 100% focused on our global education strategy. The world of education is changing rapidly and we see great opportunity to grow our business through increasing access to high quality learning globally.’ The deal, which is subject to regulatory approval, is expected to be completed in the fourth quarter of 2015. Some commentators have speculated that Pearson may also sell its 47% stake in Penguin Random House given the company’s focus on its educational business.
Category: International news