UK-headquartered media group Pearson will retain its FT Business unit as part of the FT Group – home to the Financial Times – after failing to find a buyer willing to meet its target price.
The division, assets of which are nearly all based in Britain, was put up for sale in February as the media group sought to concentrate on international expansion.
Pearson hoped to make £90 million ($138m; €140m) from offloading the unit. However, two management buyout teams offered only around £75m each, while a further bidder, Incisive Media, dropped out of talks last month after failing to agree a price.
FT Business houses magazines such as The Banker and Investors’ Chronicle.
News source: MediaGuardian.co.uk; additional content by WARC staff