Media News - Friday, May 30, 2008

‘Scary’ prospects for newspapers: Thomson Reuters CEO

Times are scary for newspapers, but news agencies are benefiting from the big shifts in the media industry, Thomson Reuters chief executive Thomas Glocer said Wednesday at the All Things Digital conference in Los Angeles. Glocer said at the conference, sponsored by The Wall Street Journal, that the benefits of newspapers cutting back staff due to subscriber and advertising loss have already accrued to his online news and financial information distribution giant. Thomson Reuters was created on April 17 Canadian media giant Thomson Corp's takeover of Britain-based Reuters. Thomson Reuters had plans to develop specialized news feeds for scientists and lawyers, as part of the further evolution of the news agency business, Glocer said. He gave the example of a recent service the company developed in India delivering crop prices and weather reports to farmers on their mobile phones. He also said Thomson Reuters would promote and exploit 'citizen journalism' - the contributions of non-professional journalists snapping pictures of events with cellphones and reporting their experiences on website. 'It doesn't matter that you are a Pulitzer prize photographer if you are there with your cell phone.' (AFP )

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