UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
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FORM 6-K
REPORT OF FOREIGN PRIVATE ISSUER
PURSUANT TO RULE 13a-16 OR 15d-16 UNDER
THE SECURITIES EXCHANGE ACT OF 1934
For the month of November 2007
PEARSON plc
(Exact name of registrant as specified in its charter)
N/A
(Translation of registrant's name into English)
80 Strand
London, England WC2R 0RL
44-20-7010-2000
(Address of principal executive office)
Indicate by check mark whether the Registrant files or will file annual reports
under cover of Form 20-F or Form 40-F:
Form 20-F X Form 40-F
Indicate by check mark whether the Registrant by furnishing the information
contained in this Form is also thereby furnishing the information to the
Commission pursuant to Rule 12g3-2(b) under the Securities Exchange Act of 1934
Yes No X
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This Report includes the following documents:
1. A press release from Pearson plc announcing Groupe Les Echos
5 November 2007
Statement regarding Groupe Les Echos
Pearson today announces that it has signed an agreement to sell Groupe Les Echos
SA to LVMH for EUR240m in cash.
This follows today's ruling by the Tribunal de Grande Instance in Paris. It
concluded that Pearson's consultation process with the Works Council of Les
Echos has been satisfactorily completed.
The agreement between Pearson and LVMH includes a series of measures to protect
editorial independence and jobs at Les Echos, which were first published on 23
July 2007.
Pearson and LVMH expect to complete the transaction towards the end of the year.
In 2006, Groupe Les Echos contributed EUR126m of sales and EUR10m of operating
profit to Pearson.
Groupe Les Echos includes Les Echos, France's leading business newspaper;
lesechos.fr, France's leading business media website; Enjeux, a leading business
magazine; and other specialist financial information services.
For more information:
Luke Swanson/ Simon Mays-Smith/ Charles Goldsmith + 44 (0) 207 010 2310
Notes to editors:
The agreement between Pearson and LVMH incorporates a series of measures to
protect editorial independence and jobs. These include:
Editorial quality and independence
The editorial independence arrangements, which will be incorporated into the
statutes of Les Echos, include the following:
1. An 11 member supervisory board will be established, which will include
three independent members and the editor-in-chief of Les Echos.
2. The three independent members will be appointed by the Company's
shareholders from candidates agreed unanimously by a committee comprised of
representatives of LVMH and the Society of Journalists of Les Echos.
3. Neither Mr. Eric Izraelewicz, nor any future editor-in-chief of Les Echos,
may be dismissed by the Supervisory Board without the approval of at
least two independent members.
4. Any future editor-in-chief will be nominated by LVMH subject to the
approval of the supervisory board, including at least two independent
members, unless the appointment is vetoed by a majority of journalists at
Les Echos.
5. The same will apply to the editor-in-chief of "Enjeux".
6. An ethical charter - a high level framework for the protection of editorial
quality and independence - will be agreed by LVMH, Pearson and the
Society of Journalists.
7. An Editorial Independence Committee will be established, consisting of two
members of the supervisory board representing LVMH; two of the independent
members and two members appointed by the Society of Journalists. Its role
will be to ensure that the values of the ethical charter are upheld. The
Committee will consider complaints from any editor or journalist regarding
any alleged breach of the editorial independence by the shareholders. If
the Editorial Independence Committee upholds a complaint, the Committee
will require the Editor-in-Chief to publish the complaint prominently in
the newspaper and the affected journalists may exercise their 'Clause de
Conscience', which allows them to resign and receive a dismissal payment.
8. These editorial independence arrangements can only be changed with the
approval of two of the three independent members.
Employment
1. There will be no redundancies of Les Echos people for at least four years.
2. The terms of the existing collective agreements will be maintained for
at least five years.
3. All employees entitled to exercise their 'Clause de Cession' right, which
allows them to resign and receive a dismissal payment as a result of the
sale, will have the right to do so for two years from the closing.
SIGNATURE
Pursuant to the requirements of the Securities Exchange Act of 1934, the
registrant has duly caused this report to be signed on its behalf by the
undersigned, thereunto duly authorized.
PEARSON plc
Date: 05 November 2007
By: /s/ STEPHEN JONES
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Stephen Jones
Deputy Secretary