Thomson takes over Reuters
Canadian publisher Thomson has agreed to buy
Reuters for about 8.7 billion pounds ($17.2 billion).
Canadian publisher Thomson has agreed to buy
Reuters for about 8.7 billion pounds ($17.2 billion), creating the
world’s leading provider of news and data for professional
markets.
With 34 percent of the financial information market, the new Thomson-Reuters will overtake privately-owned Bloomberg LP on 33 percent, according to industry newsletter Inside Market Data.
“When the facts are examined as against the myths about the market, the regulatory authorities will say that not only is this a pro-competitive move, but just the dynamics of the market themselves are making it extremely competitive,” Reuters Chairman Niall FitzGerald said.
The companies say the combination is a natural fit across geography and products, bringing together Reuters strength in real-time news and data with Thomson’s historical information.
For Thomson, the combination of the two companies adds muscle to its financial services business. For Reuters, it reduces its dependence on financial markets and opens up opportunities in news and research for other professionals.
Rumors about this have been floating for months. Unlike many of these “media” mergers, this actually involves like with like.
With 34 percent of the financial information market, the new Thomson-Reuters will overtake privately-owned Bloomberg LP on 33 percent, according to industry newsletter Inside Market Data.
“When the facts are examined as against the myths about the market, the regulatory authorities will say that not only is this a pro-competitive move, but just the dynamics of the market themselves are making it extremely competitive,” Reuters Chairman Niall FitzGerald said.
The companies say the combination is a natural fit across geography and products, bringing together Reuters strength in real-time news and data with Thomson’s historical information.
For Thomson, the combination of the two companies adds muscle to its financial services business. For Reuters, it reduces its dependence on financial markets and opens up opportunities in news and research for other professionals.
Rumors about this have been floating for months. Unlike many of these “media” mergers, this actually involves like with like.
Posted: Tue - May 15, 2007 at 04:06 PM