Pearson Acquires Money-Media; Targets Money Management Industry

FT publisher Pearson (NYSE: PSO) has acquired Money-Media, an online news source for the money management industry. Terms of the deal were not disclosed, although the announcement states that NYC-based Money-Media had revenue of $16 million in 2007. Money-Media CEO Michael D. Griffin had been the sole voting shareholder. Through its online titles, Ignites, Fundfire, BoardIQ, Agenda and ODX, Money-Media will help Pearson expand FT’s appeal to the asset management industry. Specifically, its content will be used in conjunction with the US launch of FTfm, a fund management supplement to the paper. Release.