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Pearson has agreed to sell its 50% stake in The Economist Group for £469 million, payable in cash.

This sale did not include the stake in the Economist, which is held via the Financial Times Ltd.

Nikkei’s flagship Nihon Keizai Shimbun dominates business and financial news coverage in Japan, assigning multiple reporters to cover each of the country’s biggest companies.

Nikkei Inc’s flagship newspaper, The Nikkei, has a readership of more than 3 million people for its morning edition alone.

Skadden, Arps, Slate, Meagher & Flom is advising Japanese media group Nikkei on its £844 ($1.3 billion) purchase of the Financial Times from Britain’s Pearson, which turned to Freshfields Bruckhaus Deringer for advice.

However, it provided no details of with whom it is in discussions, and said there can be no certainty these talks will lead to a sale.

“There is no formal process under way”, the report said. It lists the potential buyers as Axel Springer, the German media conglomerate (and POLITICO Europe partner), as well as “investors in Europe, the Middle East and Asia”.