Categories: OLD Media Moves

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.”

Read more here.

Chris Roush

Chris Roush was the dean of the School of Communications at Quinnipiac University in Hamden, Connecticut. He was previously Walter E. Hussman Sr. Distinguished Professor in business journalism at UNC-Chapel Hill. He is a former business journalist for Bloomberg News, Businessweek, The Atlanta Journal-Constitution, The Tampa Tribune and the Sarasota Herald-Tribune. He is the author of the leading business reporting textbook "Show me the Money: Writing Business and Economics Stories for Mass Communication" and "Thinking Things Over," a biography of former Wall Street Journal editor Vermont Royster.