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| Version 1 | Version 2 |
|---|---|
| Financial Times deal battle 'went down to the wire' | Financial Times deal battle 'went down to the wire' |
| (about 3 hours later) | |
| A bidding war for the Financial Times saw a last minute battle between Germany's Axel Springer and eventual winner, Japan's Nikkei, the FT reports. | A bidding war for the Financial Times saw a last minute battle between Germany's Axel Springer and eventual winner, Japan's Nikkei, the FT reports. |
| The Japanese media giant managed to trump Axel Springer with an "eleventh hour bid", the FT said. | The Japanese media giant managed to trump Axel Springer with an "eleventh hour bid", the FT said. |
| Meanwhile FT publisher Pearson reported a first half loss of £115m compared with £36m a year earlier. | Meanwhile FT publisher Pearson reported a first half loss of £115m compared with £36m a year earlier. |
| Pearson blamed a £70m balance sheet write down related to selling its US PowerSchool business. | Pearson blamed a £70m balance sheet write down related to selling its US PowerSchool business. |
| But its shares rose more than 2% in early trading after it boosted its dividend. | But its shares rose more than 2% in early trading after it boosted its dividend. |
| 10 minutes to go | 10 minutes to go |
| Axel Springer had wooed Pearson for a long time to be in a position to make an offer for the FT, whereas Nikkei only began its courtship five weeks ago, the FT said. | Axel Springer had wooed Pearson for a long time to be in a position to make an offer for the FT, whereas Nikkei only began its courtship five weeks ago, the FT said. |
| In a dramatic last minute flurry, Nikkei managed to clinch the deal in the final 10 minutes of discussions, it added. | In a dramatic last minute flurry, Nikkei managed to clinch the deal in the final 10 minutes of discussions, it added. |
| Nikkei - an abbreviation of "Nihon Keizai Shinbun" which means "Japanese Economic Newspaper" - is a widely respected Japanese business publication. | Nikkei - an abbreviation of "Nihon Keizai Shinbun" which means "Japanese Economic Newspaper" - is a widely respected Japanese business publication. |
| The broadsheet dominates Japanese-language business media with 3.16-million paid subscribers, of which 430,000 are online. | The broadsheet dominates Japanese-language business media with 3.16-million paid subscribers, of which 430,000 are online. |
| The Japanese newspaper had been trying to break into English-speaking international markets for decades, but had not enjoyed wide success outside of Japan. | The Japanese newspaper had been trying to break into English-speaking international markets for decades, but had not enjoyed wide success outside of Japan. |
| Publishing group Pearson announced on Thursday that it had agreed to sell the Financial Times Group to Nikkei for £844m. | Publishing group Pearson announced on Thursday that it had agreed to sell the Financial Times Group to Nikkei for £844m. |
| Analysis: Rory Cellan-Jones, Technology editor | |
| Financial Times journalists seem somewhat shell-shocked by yesterday's turn of events, but relieved to be told by their leaders that the new owners are committed to editorial independence and to growing the business. | |
| As a former editor Richard Lambert told the BBC, having paid such a high price, Nikkei would be crazy to do anything to damage the newspaper. | |
| He also praised Pearson for having been a model owner, although there have been whispers from some at the Financial Times that its parent never invested quite enough in growth. | |
| It has decided that its future lies in education and the FT will grow faster in the hands of a wealthy and focused new owner. | |
| The short-term gain may have pleased its shareholders, but yet again a UK company has decided to sell up rather than build a global digital business. | |
| Read Rory's full blog here | |
| FT's new owner Nikkei eyes digital success | |
| How the Financial Times has rolled with the times |