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Pearson to sell 50 percent of ‘The Economist Group’ stake

Publishing firm Pearson has announced plans to sell 50 percent of its stake in The Economist Group.

The announcement came just days after the company made public its decision to sell the Financial Times to Japan’s Nikkei, reported the BBC.

Pearson said that discussions were going on regarding the sale of The Economist but added there was ‘no certainty that this process will lead to a transaction’.

It also did not name any ‘potential buyers’. However, Italy’s Agnelli family said it was in talks to increase its stake in the Economist Group from the current 4.72 percent.

Exor, the investment arm of the Agnelli family, said on its website that any increased investment would represent a minority shareholding in The Economist, reflecting the firm’s strong commitment to the ‘editorial independence that lies at the heart of the Economist’s ethos and success’.

Other Economist shareholders include the family dynasties Cadbury, Rothschild and Schroder.

The Economist Group includes the Economist magazine, the research company the Economist Intelligence Unit and the US legislative information provider CQ Roll Call. (ANI)