(AP) Media conglomerate Pearson has hired an investment firm for advice after receiving expressions of interest from several potential buyers about its FT Business arm, which publishes magazines about the British retail, personal, and institutional finance industries.
In a statement Monday, Pearson said it has appointed the investment firm Lazard to advise it on options for FT Business, whose publications include Investors Chronicle, The Banker, Money Management, and Financial Adviser.
Pearson did not identify the potential buyers of FT Business, part of the Financial Times Group that publishes Britain’s leading financial newspaper.
The Financial Times Group has seen its profits rise as the increase in private investment, cross-border mergers and acquisitions and the globalization of business and investment has spawned a greater demand for reliable business information.
Since 1997, Pearson has invested heavily in the Financial Times, launching a new U.S. edition and extending its network of print sites around the world.
It has also pumped resources into FT Business, and has reported steady growth in circulation figures and advertising revenues.
On the Net: www.pearson.com.