Tuesday 21 July 2015

Bloomberg reveals Pearson planning to sell the FT - again! - part 2

Bloomberg's "scoop" about FTSE 100-listed Pearson weighing a sale of the Financial Times got short yesterday shift from City analysts, media commentators and investors.

For example, here is a piece from Roy Greenslade, The Guardian's media commentator, on the Bloomberg story:


However, while reflecting on Bloomberg's tale last night I remembered something that might - and I mean might - be relevant to the situation.

About eight months ago a source showed me a memo that was basically a list of acquisition targets for CNBC - the American business news channel that prattles on all day about what's happening in markets. The memo was put together for the higher ups at CNBC/its owners and the Financial Times was on the "list".

To be honest, the "list" was not particularly innovative and contained all the usual potential takeover targets in financial publishing. So, for example, Mergermarket.com (which, ironically, used to be owned by Pearson but is now owned by private equity firm BC Partners) was also on the infamous "list" as were several other financial publishing assets.

And if I'm being completely candid, I haven't had any visibility whatsoever on this situation since I was shown the "list", so CNBC's aspirations in financial publishing may have gone absolutely nowhere.

Still, I note that Jeffrey McCracken - the global deals editor at Bloomberg, who has an excellent track record in breaking accurate market moving takeover scoops - tweeted yesterday:

reports July 24. Will they acknowledge new offers for ?


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