OLD Media Moves

Thomson Reuters sells stake in German financial news wire

June 15, 2009

Thomson Reuters has sold its 34 percent take in a German financial news service called dpa-AFX, according to a Deutsche Press-Agentur story.

The story states, “Under the agreement, Thomson Reuters sold its 34-percent shareholding in the joint venture to the remaining partners, dpa of Germany and APA (the Austria Press Agency), who increased their holdings to 76 percent and 24 percent.

“The price was not disclosed. The announcement said the parties expressed their long-term commitment to the business and continuation of existing supply relationships.

“dpa-AFX supplies ‘real-time’ news to banks and businesses who need it even faster than regular news media can report the stories.

“The change in structure follows a transfer of editorial staff who previously produced English-language financial news for Thomson Financial, based at dpa-AFX’s Frankfurt headquarters. They have now been integrated into Reuters.”

Read more here.

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