Japanese media firm bags FT conference arm in US$1.3bn deal

WORLD – A Japanese media giant has bought a major newspaper and conference business. Nikkei has snapped up the Financial Times group from Pearson for US$1.3bn (£838.4m), in a deal which includes FT Live, the global conference and events business. Nikkei beat Germany’s Axel Springer to the prize, which marks the biggest acquisition by a Japanese media organisation and is a coup for the employee-owned firm that gives its name to the main Japanese stock market index. Chaired by senior journalists from the Financial Times Group, FT Live’s summits, conferences, awards and strategic forums gather the world’s most influential decision-makers. The events feature exclusive on-stage interviews, presentations and panel debates across multiple content platforms. Last year, the division organised more than 200 events for 21,000 delegates. Tsuneo Kita, chairman and group CEO of Nikkei said: “I am extremely proud of teaming up with the Financial Times, one of the most prestigious news organisations in the world. We share the same journalistic values.”