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FT to be sold to Axel Springer

July 23, 2015

The owner of Britain's leading financial daily, the Financial Times, has confirmed that it is in advanced talks to sell the paper. Media reports have identified Germany's Axel Springer publishing house as a likely buyer.

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Financial Times Deutschland Schließung eingestellt Einstellung Produktion Zeitung Wirtschaft
Image: picture-alliance/dpa

British publisher Pearson did not specify who the FT, its website and its 50 percent stake in The Economist magazine, would be sold to, but the paper itself reported that it would go to Axel Springer, citing "several people familiar with the situation."

The deal is not yet concluded and Pearson said there was "no certainty that the discussions will lead to a transaction."

But if it does, the sale would put to rest years of speculation over whether the 171-year-old British publisher was looking to let go of its pink-paged "trophy asset," which it acquired in 1957.

cjc/sri (Reuters, AP)