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Pearson could sell Les Echos

Pearson could sell Les Echos
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Britain’s Pearson, which publishes the Financial Times, has said it is considering its options for the French business daily it owns, Les Echos. The options include a possible sale.

Journalists at the paper immediately went on strike against the idea that it could be sold to Bernard Arnault, the head of luxury group LVMH and owner of rival newspaper La Tribune, who is reported to have offered 250 million euros.

In a letter to Pearson’s chief executive Marjorie Scardino the journalists called the possible sale of the paper to Arnault “dangerous” for their editorial independence. They also fear for their jobs.

Pearson stressed selling is only one option it is reviewing and it would need a good price, guarantees of editorial independence and of the group’s scope and jobs.