Media News - Friday, April 18, 2008

Thomson Reuters begins life as financial information giant

Thomson Reuters began life on Thursday as a leading provider of financial data to trading floors worldwide alongside US rival Bloomberg. Canada's Thomson Corp completed its purchase of British-based media and information group Reuters in a deal agreed last year worth GBP 8.7bn (EUR 11.5bn). Thomson Reuters will retain its Reuters brand, which was founded more than 150 years ago and is a global news and photo agency. Reuters also deals in financial market data to clients such as investment banks and brokerages around the world. Thomson Reuters on Thursday also unveiled its logo - consisting of concentric circles of orange dots - with the tagline ‘Knowledge to Act.’ The new company will have 32.27 percent of the financial information and data market, compared with Bloomberg's 32.73 percent, according to 2007 data compiled by research group Inside Market Data. According to a separate industry estimate given last year, Thomson Reuters was to have 34 percent of the market, compared with Bloomberg's 33 percent. (AFP via The Tocqueville Connection)

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