Pearson is in “advanced” talks with a global digital news publisher about the potential sale of flagship title the Financial Times.

According to a story broken by Reuters, the UK publishing group has been talking to an undisclosed suitor after deciding to sell the paper.

Pearson later confirmed that it was in advanced discussions, but did not disclose further details.

Pearson has owned the FT for nearly 60 years, but according to the Reuters source, it has decided to focus its energies on educational publishing, from which is draws the greatest proportion of its revenues.

There have been previous rumours and speculation regarding the divestment of the FT, with global media names including Bloomberg, Thomson Reuters and Axel Springer named as interested parties. Price tags associated with potential deals have totalled as much as £1bn ($1.56bn), but analysts have questioned the high value.

The FT was first published in 1888 and is arguably the world’s most famous business-focused newspaper. It has a global print and digital circulation of 720,000, according to Pearson’s most recent results published in February, when the group said that FT profits had tripled year on year.

Pearson’s press statement said: “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.”

The FT Group also includes a 50% take in business magazine the Economist.