Pearson earlier Thursday had confirmed it was in advanced talks on the possible sale of the London-based FT Group, which includes the Financial Times newspaper, but the potential buyer was not disclosed.

Nikkei announced the agreement in an email to subscribers Thursday afternoon U.K. time.

*PEARSON SAYS PACT DOESN'T INCLUDE 50% STAKE IN ECONOMIST GROUP

*PEARSON: PACT DOESN'T INCLUDE FT GROUP'S LONDON PROPERTY

*PEARSON: TRANSACTION EXPECTED TO CLOSE DURING 4Q

As The FT reports,

 Nikkei, the Japanese media company, has trumped Germany's Axel Springer, in a tussle to buy the FT Group from Pearson for £844m, bringing the curtain down on its 58-year ownership of the London-based global news organisation.

 Pearson has for the past few weeks been exploring a sale of the group, which comprises the Financial Times, a number of related titles and a 50 per cent stake in the Economist Group, publisher of the Economist magazine.