Cyrus Sanati of The New York Times reports that Thomson Reuters is in talks to acquire Breakingviews.com, which provides financial news and analysis.
Sanati writes, “Breakingviewsâ€™ commentary is syndicated in several newspapers around the globe, including The New York Times, The Daily Telegraph in London and Le Monde in Paris. It was founded in 2000 by Hugo Dixon and Jonathan Ford, who both worked for The Financial Timesâ€™s Lex column, which produces similar commentary. (Mr. Dixon was the editor of Lex.)
“The company managed to turn a profit in the first half of the year by reallocating resources, cutting its costs and increasing its revenue through higher subscription sales.
“The Times of London reported that Breakingviews had hired Perella Weinberg Partners as its financial adviser.
“The company has only a small number of shareholders and is partly owned by Rupert Murdochâ€™s News Corporation by way of the acquisition of Dow Jones & Company in 2007. Last year, Dow Jones dropped its contract with Breakingviews to provide content to The Wall Street Journal, electing instead to refashion the Heard on the Street column into a similar commentary service.”
Read more here.