30th Jan 2008 10:45
Pearson PLC30 January 2008 30 January 2008 PEARSON TO SELL ITS FT DEUTSCHLAND STAKE TO GRUNER + JAHR Pearson, the international education and information company, today announcesthat it has agreed to sell its 50% stake in Financial Times Deutschland toGruner + Jahr. The transaction, which will increase Gruner + Jahr's stake in FT Deutschland to100%, is subject to regulatory approval and is expected to complete in the firstquarter of 2008. It includes arrangements for the FT to licence the FinancialTimes brand and FT content to FT Deutschland. FT Deutschland was launched in 2000 and now has a circulation of approximately105,000. Pearson's share of the gross assets of FT Deutschland was approximately€8m at 31 December 2007. Rona Fairhead, chief executive of the Financial Times Group, said: "We are incredibly proud to have played a part in launching and building aleading business newspaper in Germany. However, the FT Group is increasinglyfocussed on the worldwide expansion of the Financial Times and our digitalfinancial information businesses. FT Deutschland no longer fits within thatstrategy, but we are very pleased to have found such a good home for a greatnewspaper. Gruner + Jahr has been a terrific partner and we wish all the peopleof FT Deutschland every success." ENDS For more information: Luke Swanson/ Simon Mays-Smith/ Charles Goldsmith +44 (0)20 7010 2310 This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
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