[OVERSEAS] FT reportedly explores sale for $1.6 billion  

Now who says the media business is not lucrative anymore.

Pearson Plc is reportedly exploring a sale of the Financial Times after receiving interest from potential buyers, according to people familiar with the matter.

London-based Pearson is sounding out possible bidders for the salmon-colored newspaper, said the people, who asked not to be identified because the deliberations are confidential, Bloomberg reports.

A sale may value the business at as much as 1 billion pounds ($1.6 billion), two of the people said.

While there is no formal process under way, the Financial Times may draw interest from media companies such as Axel Springer SE as well as investors in Europe, the Middle East and Asia, the people said.

Pearson shares rose more than 5 percent intraday, erasing earlier losses and trading at 1,271 pence as of 2:27 p.m. in London.

The company has a market value of 10.4 billion pounds.