The Financial Times is being sold to Japan's Nikkei Inc in a massive £844 million ($1.3 billion) deal.
London publishing house Pearson announced today that Nikkei had closed a deal to take ownership of the FT Group and its digital assets.
John Fallon of Pearson credited Nikkei with having "a long and distinguished track record of quality, impartiality and reliability" in its own journalism.
Aside from publishing its own Nikkei Business magazine, the corporation runs several other publications and television channels as Japan's largest media conglomerate.
"I am extremely proud of teaming up with the Financial Times, one of the most prestigious news organizations in the world," Nikkei chairman Tsuneo Kita said today.
"Our motto of providing high-quality reporting on economic and other news, while maintaining fairness and impartiality, is very close to that of the FT.
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"We share the same journalistic values. Together, we will strive to contribute to the development of the global economy."
The Financial Times was first published as a broadsheet in 1888, and over the decades has expanded to include publications How to Spend It and The Banker, among others.
Nikkei's deal with Pearson has been tipped to close in the fourth quarter of the year.
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