Japan's Nikkei to buy Financial Times for $1.3 billion
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FT Group contributed 334 million pounds of sales to Pearson.
For the past few weeks, Pearson has been exploring a sale of FT Group, which comprises the Financial Times, a number of related titles and a 50 percent stake in Economist Group, publisher of the Economist magazine.
Pearson said that in 2014, FT Group contributed 334 million pounds of sales and 24 million pounds of adjusted operating income to Pearson. On June 30, 2015, FT Group had gross assets of approximately 250 million pounds.
At the FT, total circulation across print and digital rose more than 30 percent over the last five years to 737,000, with digital circulation growing to represent 70 percent of the total, from 24 percent, and mobile driving almost half of all traffic. Content and services now account for the majority of revenues, said the publisher. ■