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Murdoch and UAE group eye FT: report

AFP-JIJI

Media mogul Rupert Murdoch and Abu Dhabi’s state media group are in talks to acquire the Financial Times Group for about $1.2 billion, a report said Friday.

The move would see Murdoch add the respected Financial Times name as well as 50 percent of the Economist magazine to his vast empire, which already includes the Wall Street Journal and Dow Jones.

The Edge Review, a regional political and business digital magazine based in Malaysia, said the talks had been progressing for more than a month with the owners, London-based publishing and education giant Pearson.

Citing financial executives familiar with the negotiations it said a decision could be finalized as early as next week.