Reuters CEO: Unclear we can make a dent in America

Reuters chief executive officer Andrew Rashbass has expressed concern about whether the news agency can cut into the market share leads held by rivals the Associated Press and Bloomberg in the United States, reports The Baron.

The Baron writes, “Rashbass spoke on Tuesday at a meeting of The Reuter Society on the theme ‘Why news matters’.

“In the US financial market, Reuters would continue to make progress, particularly with global companies that are making choices around Reuters’ flagship desktop data terminal Eikon and other things that will increasingly roll out in the United States.

“‘I don’t think we’ve cracked America, I think it remains an opportunity for us but you have to decide – and we’ll continue to pursue it – you have to decide: are you going up against AP, Bloomberg in their heartlands or do you actually say there’s a whole emerging world out there in Latin America, in Asia, in the developing countries in Europe. Actually is that a better route for us and make progress where we can in the US rather than say there are big opportunities in the US.’

“Rashbass, who joined Reuters as CEO in July from The Economist where he was chief executive, said The Economist ‘took the decision that it was going to take on America and made a reasonable fist of that so I do believe that’s possible, but I have a feeling that there are bigger opportunities for Reuters in may be not putting all our eggs, shall we say, in the American basket.'”

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