Financial Times Sold For $1.3 Billion To Japanese Media Conglomerate

One of the world’s most storied business and economic voices is changing hands. The educational conglomerate Pearson PLC announced today that it is selling the Financial Times to Nikkei Inc. for £844,000,000, or nearly $1.3 billion in an all cash transaction.

Did Nikkei overpay for Financial Times or did Jeff Bezos steal the Washington Post?

While it had financially struggled over the past decade, recently the Financial Times had found its footing. In 2014, FT Group was credited with £334m of sales and £24m of adjusted operating income to Pearson’s bottom line and had gross assets reported at £250m. The agreement does not include FT Group's London property at One Southwark Bridge and Pearson's 50% stake in The...