PA Group, parent company of the Press Association, has announced it will not be selling its PA Sport division following a three month review.
The company said there had been strong interest from trade and private equity bidders but decided it was ‘in the best interests of shareholders and customers to retain ownership of the business.’
PA Sport provides live news, information and data to customers, including many newspapers, TV networks and websites in Britain and around the world. Based in the UK, it also has staff in America, Australia, China and Africa.
In a statement it added: ‘PA Group will support PA Sport in the next stage of its development, ensuring the continued supply of quality sports news and data to its customers. PA Sport is a highly successful business in a growing market place and PA Group is committed to its future.”
PA Group first announced it was considering selling PA Sport in February. In March it began investigating a sale or outside investment in the business. However, it always maintained it was ‘determined’ to retain the Press Association’s sport wire.