Pearson explores sale of FT

Pearson Plc is exploring a sale of the Financial Times after receiving interest from potential buyers, according to people familiar with the matter.
London-based Pearson is sounding out possible bidders for the salmon-coloured newspaper, said the people, who asked not to be identified because the deliberations are confidential. A sale may value the business at as much as 1 billion pounds ($1.6 billion), two of the people said.
While there is no formal process under way, the Financial Times may draw interest from media companies such as Axel Springer SE as well as investors in Europe, the Middle East and Asia, the people said.
Pearson shares rose more than 5% intraday, erasing earlier losses and trading at 1,271 pence as of 2.27 pm in London. The company has a market value of 10.4 billion pounds.
Discussions over a disposal have heated up as CEO John Fallon focuses on tackling a slowdown in the education unit weighed on by declining US college enrollments and falling textbook sales.
Representatives for Pearson and Axel Springer declined to comment.