By: Staff Reports
Financial Times Publisher Seeks NYSE Listing
LONDON — (The Hollywood Reporter) Pearson Plc, the media group that houses assets as diverse
as ‘Baywatch’ and the Financial Times, said Monday that it has inked a far-reaching
educational publishing deal with America Online and hinted that the door could be open to a
wider agreement between the two companies.
The news, which combined with strong full-year profits, sent Pearson shares 7.7% higher to ?24
($39). Pearson posted a 15% increase in pretax profit to ?402 million ($651.2 million).
Pearson’s television unit increased profit by 11%. Pearson also said it plans a New York stock
market listing this year but did not give details.
Under the AOL deal, Pearson will leverage its school education businesses, which include the
educational units of Simon & Schuster, to build a learning portal for AOL aimed primarily at the
North American market. Pearson financial director John Makinson said a broader content tie-up
with AOL is possible but not imminent. Pearson CEO Marjorie Scardino sits on the AOL board.
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