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Sunday, December 9, 2012

Mayor Bloomberg weighs buying Financial Times - NYT, (NYSE: PSO)

New York City Mayor Michael Bloomberg is weighing up whether to make a bid for The Financial Times Group, which includes the namesake paper and a half interest in The Economist magazine, the New York Times reported, citing three people close to the mayor. Pearson Plc, the publisher of FT, is about to lose two of its top executives, raising speculation the paper could be up for sale.Analysts value The Financial Times Group at about $1.2 billion, well within the reach of Bloomberg LP, which in 2011 had revenue of $7.6 billion, the paper said. ()One media banker with knowledge of the company expects the paper to be sold around early next year, the New York Times said.Factions within Bloomberg LP have argued that it would be smarter to purchase a digital property, pointing to the website LinkedIn as an example.

Pearson plc, (Pearson) is an international media and education company with its principal operations in the education, business information and consumer publishing markets. Shares of PSO fell by 1.92% or $-0.37/share to $18.89. In the past year, the shares have traded as low as $17.09 and as high as $20.48. On average, 158371 shares of PSO exchange hands on a given day and today's volume is recorded at 556596.