Pearson plc, the international media company, has sold FT Energy to Platts, the global energy information and marketing services business of The McGraw-Hill Companies. The purchase price is not disclosed.
The sale of FT Energy is the last in a series of disposals that enables the FT Group to focus on delivering international business and financial news and analysis and specialist financial information.
FT Energy’s products include newsletters Megawatt Daily, Gas Daily and Power in Europe, and industry conferences including Powermart and Coal Marketing Days. FT Energy offers consulting services through E Source and RDI, and databases and analytical tools such as POWERdat, GASdat and POWERmap. The sale of FT Energy follows the earlier disposals of the FT Group’s media and telecomms, automotive and retail newsletter businesses.
Stephen Hill, Chief Executive of the Financial Times Group, commented:
“This completes our planned series of disposals of non-financial publications within the FT Group. Our newspapers, magazines and online services are now all focused on what we do best – providing our customers with the very best business and financial news, comment, analysis and data.”
FT Energy is one of the world’s most comprehensive providers of global energy industry information. With offices in the USA and UK, FT Energy informs and educates energy professionals around the world.
The Financial Times Group
- The FT Group, one of the world’s leading business information companies, aims to provide a broad range of business information and services to the growing audience of internationally minded business people. The Financial Times newspaper is printed in 18 cities around the world and has one of the world’s fastest growing international readerships. FT.com, the newspaper’s internet partner, combines agenda-setting editorial with relevant financial data and discussion groups, as well as a broad range of business tools including the largest search function on the internet.
- The FT Group’s pan-European network of national business newspapers and online services include France’s leading business newspaper and website, Les Echos and lesechos.fr, and Spain’s leading business newspaper and website, expansiondirecto.com. In February 2000, the FT launched a new German language newspaper, FT Deutschland, with a fully integrated online business news and data service.
- Through FT Interactive Data, the FT Group is one of the world’s leading sources of securities pricing and specialist financial information to global institutional, professional and individual investors.
- The FT Group also has a joint venture with CBSMarketwatch.com; FTMarketWatch.com provides free, fast, incisive, real-time financial and market news to Europe’s rapidly growing community of private investors.
- FT Business produces specialist information on the retail, personal and institutional finance industries. It publishes the UK’s premier personal finance magazine, Investors Chronicle, and The Banker, Money Management and Financial Adviser for professional advisers.
- The Financial Times Group also has a stake in a number of joint ventures, including;
- FTSE International, a joint venture with the London Stock Exchange;
- Vedomosti, Russia’s leading business newspaper and a partnership venture with Dow Jones and Independent Media;
- A 50% stake in BDFM, publishers of South Africa’s leading financial newspapers and website;
- A 50% stake in The Economist Group, which publishes the world’s leading weekly business and current affairs journal.
- The Financial Times Group was advised by The Jordan, Edmiston Group Inc in New York.
- The Financial Times Group is part of Pearson plc, the international media company. Pearson also owns Pearson Education, the world’s leading education company; Penguin, one of the world’s best-known consumer publishers; and a 22% stake in RTL Group, Europe’s leading broadcasting and production company.
For further information
Luke Swanson, Pearson plc +44 (0) 20 7010 2310
Joanna Manning-Cooper, FT Group: +44 (0) 20 7873 4447