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F T Sold To Nikkei

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http://uk.reuters.com/article/2015/07/23/uk-pearson-m-a-financialtimes-idUKKCN0PX0YQ20150723

I'd post the FT's copy but, you know, they'd sue.......

Japanese media group Nikkei agreed on Thursday to buy the Financial Times from Pearson (PSON.L) in a $1.3 billion (£838 million) deal that brings together two leading financial news operations from Europe and Asia.

The deal marks the biggest acquisition by a Japanese media organisation and is a coup for Nikkei, an employee-owned firm which also lends its name to the main Japanese stock market index.

The Nikkei newspaper, which has a circulation surpassing 3 million for its morning edition alone, enjoys a must-read reputation for financial and business news in Japan but has struggled to break out of its home market.

"I am extremely proud of teaming up with the Financial Times, one of the most prestigious news organisations in the world," said Tsuneo Kita, chairman and group CEO of Nikkei. "We share the same journalistic values."

Analysts and bankers had for years been waiting for Pearson to sell the trophy asset, although the names most closely linked with a deal were Bloomberg and Thomson Reuters (TRI.N). A person familiar with the situation had also recently told Reuters that Germany's Axel Springer (SPRGn.DE) was working on a buyout.

Reuters reported earlier on Thursday that the 171-year-old Pearson had finally decided to sell the business daily as it expanded more into education.

As the news broke of the Nikkei deal, an FT journalist tweeted a photograph showing staff in the newsroom crowded around a television watching the developments. FT Editor Lionel Barber said on Twitter he would address the staff shortly.

The sale of the FT Group, which is expected to close during the fourth quarter of 2015, does not include its 50 percent stake in The Economist magazine nor the London headquarters of the newspaper on the banks of the River Thames.

In a joint statement, Pearson said it believed the time was right for the FT, which was first printed on pink paper in 1893 to stand out from rival titles, to be part of a global, digital news company.

35x trailing income (Nikkei clearly not Buffet afficionados then)

something that actually is #turningjapanese

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http://uk.reuters.com/article/2015/07/23/uk-pearson-m-a-financialtimes-idUKKCN0PX0YQ20150723

I'd post the FT's copy but, you know, they'd sue.......

35x trailing income (Nikkei clearly not Buffet afficionados then)

something that actually is #turningjapanese

Hey, when your money is free, who cares what the PE, yield, whatever, is. That's the new rules of the game since the central banks have rigged every market on the planet.

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My guilty secret is I don't sub to the FT. All the data I require is available for free in a timely manner elsewhere, all the analysis I require is available either for free direct from the horses' mouths or official agencies and for the small handful of quality journos I may be prepared to part with cash to read I pretty much know what they're going to say anyway.

Personally, I think their model is wrong, but hey, Pearson just flogged 'em like they were a hi-tech start up for oodles of sterlings to presumably give the Japs a toe in the door at the Dorchester so what do I know.

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Hopefully they'll broaden its horizon beyond London. It's like the trumpeter and ramper for the place, the middle class sister to the more lowly London Evening Standard.

Everything outside London it pours cold water on, everything inside (even if it makes no sense) is fine. Can you imagine how they would go on if the Olympics were in Birmingham or Cross Rail in Manchester. Look at the scepticism for national projects like rail infrastructure. Supporter of Silicon Roundabout rather than making a more sensible decision to locate it elsewhere in the country. They make me sick actually.

+1

Hence why I susbcribe to the WSJ not the FT. But love googling for their free articles. I believe free is fair value in many cases

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I read that sale as an admission that the game is up. Nobody believes their tripe anymore, much more valuable info is available outside for nothing. Nobody , except the Japanese, that is. Who cares ?

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I read that sale as an admission that the game is up. Nobody believes their tripe anymore, much more valuable info is available outside for nothing. Nobody , except the Japanese, that is. Who cares ?

Think you still need to pay for some information. There is still a market in quality investigative journalism IMO. The problem is they still want to charge for absolute tush, and in many cases, pure rentier propaganda

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An international spending spree by the Japanese is usually a sign things are about to go tits up (America in the 1980s, South East Asia in the 90s).

the-bag-holder-02-580x406.jpg

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