Pearson Plc is exploring a sale of the Financial Times after receiving interest from potential buyers, Bloomberg reports.
London-based Pearson is sounding out possible bidders, according to Bloomberg sources who asked not to be identified because the deliberations are confidential. A sale may value the business at as much as 1 billion pounds (US$1.6 billion).
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 sources said.
Discussions over a disposal, which have been on and off for years, have heated up as chief executive John Fallon focuses on tackling a slowdown in the education unit weighed on by declining US college enrolments and falling textbook sales.
No final decision has been made and Pearson may decide to keep the newspaper.
Publishers lift use of Instagram
The first half of 2015 saw some high-profile uses of Instagram from news organisations, according to the Poynter Institute.
In April, Time magazine gave the cover treatment to an Instagram photo from 26-year-old amateur photographer Devin Allen. Earlier in the year following the murder of 11 members of the of Charlie Hebdo editorial staff in Paris by Islamic terrorists, multiple news organisations — including The Washington Post and Marie Claire — used Instagram images taken in the aftermath of the slaughter.
The trend is only likely to accelerate, Poynter says, with Instagram users now empowered from last Monday to search through the service’s vast repository of images with a discovery tool built for the web.
Two journalists arrested in Zambia
Zambian authorities have arrested two journalists and accused them of publishing classified documents, according to news reports. The Committee to Protect Journalists has condemned the arrests and called on authorities to release them immediately.
The Committee to Protect Journalists reports on its website that police arrested and charged Fred M’membe, editor of the independent daily The Post, and Mukosha Funga, a reporter on the paper, over the publication.
Police said the charges were in connection with a letter the journalists published in The Post. The letter, written by Zambia’s anti-corruption commission, had allegedly been sent to Zambian President Edgar Lungu, informing him of an inquiry into allegations that one of his aides had taken a bribe from a Chinese company seeking to operate in the country.