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Nikkei Buys the Financial Times
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24.07.2015
Japanese financial newspaper Nikkei has purchased the Financial Times for $1.29 billion from Pearson, the company announced on Thursday.
In a statement Pearson chief executive John Fallon said the media is at an "inflection point" which led to the decision to sell the salmon-colored newspaper.
Fallon said, "Pearson has been a proud proprietor of the FT for nearly 60 years. But we've reached an inflection point in media, driven by the explosive growth of mobile and social. In this new environment, the best way to ensure the FT's journalistic and commercial success is for it to be a part of a global, digital news company."
In a statement Pearson chief executive John Fallon said the media is at an "inflection point" which led to the decision to sell the salmon-colored newspaper.
Fallon said, "Pearson has been a proud proprietor of the FT for nearly 60 years. But we've reached an inflection point in media, driven by the explosive growth of mobile and social. In this new environment, the best way to ensure the FT's journalistic and commercial success is for it to be a part of a global, digital news company."
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