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.
A media buyer’s guide to the Emmys
Ferguson kicks up cable news ratings
Tell us, what’s your take on automated buying?
‘The Simpsons’ again, again, and again
Cable overnights: Comedy reruns top Tuesday
Hearst tries a Millennial magazine in NYC
NBC cancels ‘Working the Engels’
Two chances to see ‘Madam Secretary’
FX renews ‘Strain’ for season two
‘America’s Got Talent’ boosts NBC to No. 1
Readers: New faces will win Emmys
Cable remembers Robin Williams
Summer’s least appreciated shows
- Belle Lenz becomes regional communications director at Dentsu Aegis
- Jeremy Langer becomes VP of programming at Tennis Channel
- Juan Vallejo rises to SVP of ad sales at Fox Hispanic Media
- Mabel Martinez becomes beauty editor at Siempre Mujer
- Robin Green becomes VP of sales at PostUp
- Celia Wu and Tim Faircliff join The 614 Group
- Megan Alexander becomes special correspondent at CBS Newspath
- Boris Izaguirre joins Telemundo's 'Yo Soy el Artista'
- Bear Grylls starring in new Discovery Channel series
This week’s cable ratings
This week’s broadcast ratings
This month’s new media traffic data
This week’s top movies, songs and books
This week’s daypart ratings
This week’s younger viewer ratings
Media planner/buyer opening in Detroit
Senior media planner/buyer job in Phoenix
Opening for an associate media director in SF
Media buyer opening in Milwaukee
Manager of media planning job in Dallas