Financial Times owner in talks to sell paper

Financial Times owner Pearson is in advanced talks about the sale of the newspaper, it confirmed today.

A brief statement comes after growing speculation that it was planning to dispose of the publication.

“Pearson notes recent press speculation and confirms that it is in advanced discussions regarding the potential disposal of FT Group although there is no certainty that the discussions will lead to a transaction,” it said.

A further announcement would be made “if and when appropriate”. Shares rose 2%.

A Reuters report said the newspaper was being sold to a global, digital news company.

A spokesman said no further comment was being added to the brief statement disclosed to the stock market.

The Financial Times was launched in 1888 and was first printed on pink paper five years later. It was bought by Pearson in 1957.

The FT group also includes a 50% stake in The Economist.

Shares rose earlier in the week on recent speculation about its sale.

Pearson, which has now become the world leader in education publishing, is said to want to focus on its strategy in this sector and no longer on the media.

The group is due to publish half-year results tomorrow.