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Japanese company buys Financial Times for £844m

By John-Paul Ford Rojas

Financial Times owner Pearson has agreed to sell the newspaper to Japan's Nikkei for £844m.

Pearson has owned the Financial Times since 1957.

The sale does not include the FT Group's property at One Southwark Bridge, where it has its headquarters, and its 50% stake in The Economist.

The cash deal is subject to regulatory approval and expected to complete in the fourth quarter of this year.

Pearson chief executive John 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 part of a global, digital news company.

"Nikkei has a long and distinguished track record of quality, impartiality and reliability in its journalism and global viewpoint. The board and I are confident that the FT will continue to flourish under Nikkei's ownership."

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