Huge potential lies ahead for the Economist. That’s the opinion of the Agnelli family who have bought a 50 percent share in the renowned paper which makes them the largest investor in the weekly publication.
The stake was sold by Pearson for 469 million pounds – around 485 million euros a price which surprised analysts who thought the paper would sell nearer the 400 million pounds mark.
The deal comes on the back of Pearson’s sale of the Financial Times to Japan’s Nikkei.
The Economist which has a target market of influential executives and policy-makers had a paid circulation of 1.6 million a week at the end of 2014.