Sale marks close of an era for former FT owner as it exits newspaper publishing business after selling its stake to Russian entrepreneur Pearson,which recently agreed to offload the Financial Times, and the publisher of the Wall Street Journal have sold off their stakes in Russian business newspaper Vedomosti.
For Pearson the sale represents its final trail out of newspaper publishing, or having already sold its 50% stake in the Economist and just weeks from completing a deal for Nikkei to takeover the FT,although it still owns a minority stake in book publisher Penguin Random House.
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Source: theguardian.com