Financial Times, the 60-year-old British international daily newspaper, will be sold to a global digital news company shortly.
Without further details on the potential sale, the owner of the publication, Pearson, made it clear that the company is in advanced talks with buyers to dispose the newspaper that mainly focuses on business and economic news.
"Pearson notes recent press speculation and confirms that it is in advanced discussions regarding the potential disposal of FT Group, although there is no certainty that the discussions will lead to a transaction. A further announcement will be made if and when appropriate," Pearson said in a statement.
A source said that Pearson, a global major in educational publications, considers it to be the right time to sell FT to completely concentrate on improving its education division, by setting aside the media business.
It is reported that global media companies such as Bloomberg, German newspaper publisher Axel Springer and Thomson Reuters are in the race to acquire FT.
Earlier, media reports suggested that the deal could be valued at about one billion pounds.
Speculations over the sale of newspaper have been running for long, as Pearson expanded its education services in North America and in emerging markets.