Nikkei acquires Financial Times

In a surprise move, Nikkei acquires the Financial Times for $1.3bn from Pearson Plc. The deal does not include either the FT’s London headquarters or its 50% stake in The Economist. Pearson’s CEO Fallon says

We have reached an inflection point in media, driven by the explosive growth of mobile and social. In this new environment, the best way to ensure the FT’s journalistic and commercial success is for it to be part of a global, digital news company.

John Fallon discusses sale of Financial Times | FT Business