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.
No reason why it shouldnt, the survival mechanism of a buisness is to eat or get eaten – mergers, etc are just one aspect of that
At least in Soviet Union they didn’t bother about putting up a charade of being competitive… their act was more a comic tragedy, where you had no competition because everything was provided by one corporation… Communist Party Inc.
isn’t it precious when reporters ring their hands about changes in their industry.
I just love it when they do that.
It is as if gawd designed it just the way it is now.
I’m going out now and renew my subscription to Buggy Whip Monthly.
In Soviet Russia the newspapers read you.
#3, paperweight,
Maybe because this consolidation might mean the loss of reporter’s jobs. Fewer reporters means less actual reporting. Enjoy your new subscription, it will fit right in with your attitude.
^…Mr. Fusion….oh yeah….we do get **real actual reporting** from Reuters. If they fired ALL of their *reporters* the supposed reporting wouldn’t suffer.
Do they use doctored photo’s for financial news like they do in International News??