Blackstone agrees to $325 million annual payment to Reuters News
Blackstone Group LP has agreed that annual payments of $325 million will be made for 30 years to the Reuters News business as part of a deal by the U.S. private equity firm to buy a majority stake in Thomson Reuters’ Financial and Risk unit, reports Pamela Barbaglia of Reuters.
Barbaglia writes, “The payments – which would amount to almost $10 billion over three decades – would be made by the new Financial and Risk company for Reuters news content, the sources said. Blackstone would own 55 percent in the new company and Thomson Reuters would retain a stake of 45 percent.
“Thomson Reuters, the parent of Reuters News, said late on Monday it was ‘in advanced discussions with Blackstone regarding a potential partnership in its F&R business’. Reuters News supplies news to the Financial and Risk unit’s desktop product, Eikon.”
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