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Monday, October 03, 2005

Murdoch sells TSL Education

Rupert Murdoch sold TSL Education to Exponent Private Equity, a London-based buy-out firm, for £ 235 million, reports BrandRepublic. TSL Education publishes Times Educational Supplement, the Times Higher Educational Supplement and some smaller titles like Nursery World as well as several websites and exhibitions targeted at teachers and education professionals. The company also provides classified advertising for jobs in UK colleges, schools and universities. However, the Times Literary Supplement was not part of the deal. The auction to sell TSL Education had started in the summer.

News International will continue to print and distribute the Times Higher Education Supplement as well as the Times Educational Supplement and also provide financial services etc. Both are weekly publications that are sold separately from the Times. BrandRepublic states, "The deal marks the first time News Corp chairman Murdoch has sold any of his British newspaper assets. He acquired TSL as part of his takeover of The Times in 1981 from the Thomson family."

The next move of Murdoch could be into classified advertising. Murdoch is currently rumored to be talking to Trader Classified Media, an Amsterdam-based classified media giant which owns several online advertising sites and which has been on the block for some time, reports PaidContent citing an The Business story.

Source: BrandRepublic, AltAssets, PaidContent

Posted by Anna-Maria Mende on October 3, 2005 at 06:43 PM | Permalink

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