Encyclopaedia Britannica Sold to Swiss-Led Group

A Swiss-based investor will lead a buyout of troubledEncyclopaedia Britannica Inc., the publisher announced Monday.

Jacob E. Safra said he expects to broaden the content anddistribution of the 227-year-old publisher. Terms of the sale,expected to be completed shortly, were not announced. EncyclopaediaBritannica is owned by the William Benton Foundation, whose solebeneficiary is the University of Chicago.

Safra is the nephew of Edmond Safra, the Beirut-born head ofa $50 billion worldwide banking empire that includes Republic Bank inNew York. The elder Safra has interests in gold and currencytrading.

Britannica has been struggling with declining sales …