With Scardino’s exit, whither the FT?
October 4, 2012
During her 15-year tenure heading up Pearson, the conglomerate that is focused on educational services but also owns Penguin and The Financial Times, Marjorie Scardino championed the newspaper, once saying the company would sell it “over my dead body.”
But with Scardino announcing her exit yesterday, it may be time to reconsider publishing’s place with Pearson.
The company has promoted John Fallon, who had presided over educational efforts outside North America, to take her place, and many are urging him to consider divesting Pearson of its non-core assets, such as the FT, which has long been a point of pride at the company but not a big money maker.
Analysts say that Pearson would be better served selling off the paper and investing the money back into its education units, funding a drive to become the leader in the top 20 worldwide educational markets, a goal that Scardino long touted, according to The Wall Street Journal.
Two companies rumored to be interested in the FT are Thomson Reuters and Bloomberg. Penguin could also be sold off.
Yesterday Fallon praised Penguin and the FT as “highly successful businesses in their own right,” but he would not comment on plans to sell them.
As for Scardino, she said yesterday that she won’t retire, following 15 years as chief executive. But she has not decided yet what her next step will be.
NBC holds steady among 18-49s on Thursday
TV trend that won’t go away: Revivals and reboots
Best of the best: Your weekend media reading list
As a new year begins, Rachel takes a look back
Tell us: What will be the big media stories of 2017?
The rescue of Univision: Chance to get back its mojo
Weekend TV: ‘The Young Pope’ bows on HBO
That time C-SPAN started broadcasting in Russian
Cable overnights: ‘Workaholics’ wilts in return
Snapchat testing two new advertising features
Instagram Stories becomes advertisers’ latest option
ABC wins second straight Wednesday with sitcoms
TV programming blog: All the cancellations and renewals
- Rachel Donovan becomes SVP and ECD at Jack Morton Worldwide
- Alan Cohen becomes president and CEO at Quigley-Simpson
- Frederic Bonn becomes ECD at iCrossing
- Cristina Sanchez becomes group creative director at Digitas LBi
- Amit Ziv becomes VP of strategy and development at Freeform
- Kathleen Hennessey rises to White House editor at The Associated Press
- Hunter Parrish joins the cast of ABC's 'Quantico'
- Jennifer Beals joins Amazon's 'The Last Tycoon'
- Longtime financial writer Christopher Byron dies at age 72
- Village Voice writer Nat Hentoff dies at age 91
This week’s broadcast ratings
This week’s cable ratings
This week’s top-rated movies, songs and books
This month’s digital traffic data: November 2016
This week’s daypart ratings
Orlando agency looking for a media planner/buyer
Freelance media planner/buyer available
Junior media planner/buyer position in Minneapolis-St. Paul
Media sales coordinator opening in New York
Freelance media buyer available