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Pearson attempts to sell Financial Times: Bloomberg

Xinhua, July 20, 2015 Adjust font size:

Pearson Plc, a Britain-based multinational publishing group, is reportedly selling the newspaper Financial Times after receiving interest from potential bidders.

The potential sale might be valued as much as one billion pounds (or 1.6 billion U.S. dollars), said the U.S.-based media group Bloomberg on Monday, citing people familiar with the matter.

The well-known, world-wide newspaper may draw interest from media companies such as Axel Springer SE as well as investors in Europe, the Middle East and Asia, reported Bloomberg.

The Financial Times' circulation reached around 720,000 in 2014, with digital subscription accounting for 70 percent of the total. However, Pearson does not release financial details of the newspaper, which is part of the professional education unit that reported 1.15 billion pounds of revenue last year.

Pearson is scheduled to report interim results on July 24. Endit