OLD Media Moves

Job cuts possible if Reuters and Thomson combine

May 11, 2007

Posted by Chris Roush

Keith Reed of the Boston Globe writes that there could be job cuts if the proposed merger between Reuters Group and Thomson Corp. goes through.

Reed wrote, “Neither side would comment on the deal’s potential impact on Boston citing the unfinished negotiations, but analysts say there’s a push to get a deal done within weeks.

“Thomson occupies an entire block on the South Boston waterfront with its own private way, Thomson Place . Though the company’s headquarters is in Stamford, Conn., and it is controlled by a wealthy Canadian family, its Boston operation accounts for $1 billion in annual revenue, half the total for Thomson Financial , its second-largest unit.

“How Thomson’s local presence looks after the merger will largely depend on how it prioritizes the news gathering and financial analysis sides of its business and on where it has offices and employees that are redundant with those of Reuters, said Rick Edmonds , media business analyst at the Poynter Institute , a St. Petersburg, Fla. , media think tank.”

Read more here.

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