- Canadian financial data provider Thomson buys out Reuters for $17b
- Creates worl'd biggest financial news & data firm, leapfrogging US-based Bloomberg
- Expected annual savings fr merger: $250m
- Thomson's interests: law, tax & scientific research
- Thomson, Reuters, BLoomberg: compete in "terminal" mkt: providing news & financial data to banks, traders & brokerages
- In Apr 2007: Bllomberg 33%, REuters 23%, Thomson 11%
- Thomson-Reuters to list in London & Toronoto
- EStimated revenue of $12b, having 49000 employees
- Reputation of Reuters at stack: known for its neutrality
- For 150years, Reuters has had reputation for independence, where no ind can own 15% or more of the company
- Thomson now owns 53%. Journalists unhappy.
- REuters general news may be sidelined for financial news
- REuters boss Tom Glover will head firm
Uncle T
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