Highlighted News

Thomson Reuters brushes off suitors for the news wire

November 1, 2019

Posted by Chris Roush

Thomson Reuters has rebuffed takeover interest in its Reuters news wire, betting instead on a dealmaking media executive to turn round the 168-year-old business, reports Andrew Edgecliffe-Johnson, Anna Nicolau, James Fontanella-Khan and Alex Barker of the Financial Times.

Edgecliffe-Johnson, Nicolau, Fontanella-Khan and Barker report, “Several would-be buyers have approached the company and intermediaries in recent months, the people said, adding that KKR-backed German media business Axel Springer and a group of individuals including former Reuters editor-in-chief and ITN boss Mark Wood were among the interested parties.

“No talks are active and hurdles may make a deal impossible, according to the people. But they said the suitors saw an opportunity to burnish a trusted, but low-margin global news brand, at a time of flux at its parent company.

“Thomson Reuters, Axel Springer and Mr Wood declined to comment.

“Some would-be suitors see Reuters News as an orphan asset after Thomson Reuters last year sold a majority stake in its financial data business to Blackstone for $17bn. The news operation contributes less than 3 per cent of group earnings and sits in a company now dominated by legal and corporate services.”

Read more here.

Subscribe to TBN

Receive updates about new stories in the industry daily or weekly.

Subscribe to TBN

Receive updates about new stories in the industry.