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Financial Times owner denies plans to sell title Financial Times owner denies plans to sell title
(about 1 hour later)
The owner of the Financial Times has denied reports that it would sell off the title.The owner of the Financial Times has denied reports that it would sell off the title.
Pearson took the unusual step on Tuesday night of denying a report that it was contemplating a sale of the newspaper, after Bloomberg said the company was exploring a private sale this year.Pearson took the unusual step on Tuesday night of denying a report that it was contemplating a sale of the newspaper, after Bloomberg said the company was exploring a private sale this year.
The British media group took a little over an hour to issue a statement in response to the media wire's report that a private sale was on the cards, saying it was "not in the habit of responding to rumours, speculation or reports about our portfolio". It added: "However, this particular Bloomberg story is wrong." The British media group took a little over an hour to issue a statement in response to the new wire's report that a private sale was on the cards, saying it was "not in the habit of responding to rumours, speculation or reports about our portfolio". It added: "However, this particular Bloomberg story is wrong."
A Bloomberg report had said that Pearson was "planning to explore a sale" of the FT and that the company "has decided to consider offers for the newspaper this year". The Bloomberg report said that Pearson was "planning to explore a sale" of the FT and that the company "has decided to consider offers for the newspaper this year".
Speculation about a possible sale of the paper is a recurring feature of media journalism, but the talk has intensified after Pearson agreed to merge its book publishing business Penguin with the German-owned Random House last month.Speculation about a possible sale of the paper is a recurring feature of media journalism, but the talk has intensified after Pearson agreed to merge its book publishing business Penguin with the German-owned Random House last month.
But bankers expressed scepticism that Dame Marjorie Scardino, Pearson's outgoing chief executive, would contemplate as her final act a disposal of a newspaper she once famously declared she would sell "over my dead body".But bankers expressed scepticism that Dame Marjorie Scardino, Pearson's outgoing chief executive, would contemplate as her final act a disposal of a newspaper she once famously declared she would sell "over my dead body".
She leaves at the end of the year, to be replaced by John Fallon. But he too has emphasised a commitment to the newspaper, although in less colourful terms. And Pearson, in its statement, said: "We have said many times that the FT is a valued and valuable part of Pearson."She leaves at the end of the year, to be replaced by John Fallon. But he too has emphasised a commitment to the newspaper, although in less colourful terms. And Pearson, in its statement, said: "We have said many times that the FT is a valued and valuable part of Pearson."