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Encyclopaedia Britannica sold

Published on .

Venerable Encyclopaedia Britannica has been sold to a group headed by Swiss-based investor Jacob E. Safra for an undisclosed amount. The 227-year-old encyclopedia had suffered financial troubles recently, due in part to its slowness at getting into electronic distribution via online services and the World Wide Web. The Chicago-based company had been for sale since April, with a reported asking price of $400 million.

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