Thomson backtracks on using Reuters brand after deal closes

Andrew Edgecliffe Johnson of The Financial Times writes Wednesday that Thomson is apparently having second thoughts about using the Reuters brand name for the market data operations after it completes its acquisition.

He wrote, “The decision was described by some insiders as a sign of the influence of Woodbridge, the Thomson family investment group, over the merged group. Woodbridge will end up with 53 per cent of the company once regulators give their approval to the deal.

“However, Geoff Beatie, president of Woodbridge, said the move was driven by an ambition to develop Thomson Reuters as a consistent international brand.

“‘Thomson Reuters is going to operate like Procter & Gamble,’ he said, with all staff carrying the same brand on their business card. ‘You go anywhere in the world and people work for Procter & Gamble but some are in baby products and some are in detergent.’

“Staff of the two companies were told yesterday that a lengthy consultation by Interbrand, the branding agency, had concluded that the Reuters name should be used for the group’s news wire but that the Thomson Reuters brand would better reflect ‘the significant value to be created through this transaction.'”