After much speculation, the Financial Times has today been purchased by Nikkei, the Japanese media group, for £844 million.
Japanese financial newspaper Nikkei is buying Financial Times from U.K. publishing group Pearson for $1.29 billion http://t.co/x26Px8sXfW
— MarketWatch (@MarketWatch) July 23, 2015
This comes after the paper’s owner Pearson confirmed it was on sale this morning. However, it had been thought that the German media group Axel Springer were the frontrunner for the purchase.
With the sale confirmed, little is known about what the new owners have planned for the paper:
— Renée Kaplan (@rkapkap) July 23, 2015
Happily, staff writers Paul Murphy and Bryce Elder offered some insight this morning while editing the Markets Live blog. The pair discussed reports that their employer was on sale, describing a ‘strange quiet’ which had overtaken the newsroom:
While Elder is convinced that they will now be sent to work in Canary Wharf, writer Dan McCrum’s money is on the Candy brothers — who were behind the luxury One Hyde Park development — turning their current riverside office ‘into flats’. However, with Pearson reportedly keeping hold of the building, the Candy’s will have to wait:
FT sale to Nikkei confirmed – Pearson’s keeping that prime riverside property and The Economist pic.twitter.com/xM7GHcYKW7
— kadhim (@kadhimshubber) July 23, 2015
Either way, it’s undoubtedly going to be a time of upheaval for FT staff. Thankfully, the FT has some advice, which was tweeted straight after the deal was sealed:
How do you manage staff and their anxieties during an age of disruption? Here’s a few tips: http://t.co/CJTJtCN28j
— Financial Times (@FT) July 23, 2015
These are the best of times. These are the Financial Times.
Update: FT staff insist they wanted a new office anyway
FT to move in medium term. "We've outgrown this building, it's a creaking building" says John Ridding, who has been stuck in lifts twice.
— John Halton (@johnhalton) July 23, 2015
Looks like we're getting out of this, erm, utilitarian building. Strip lighting does me no favours.
— Janan Ganesh (@JananGanesh) July 23, 2015