What is Thomson Reuters Corporation?

Thomson Reuters Corporation is a Canadian multinational content-driven technology conglomerate operating in the mass media industry. It was founded on April 17, 2008, and is headquartered in Toronto, Ontario, Canada.

On which stock exchanges is Thomson Reuters Corporation traded?

Thomson Reuters Corporation is traded on the Toronto Stock Exchange (TSX) under the symbol TRI and on the Nasdaq stock exchange, also under the symbol TRI.

Who are the current key leaders of Thomson Reuters Corporation?

David Thomson serves as the chairman, and Steve Hasker is the president and CEO of Thomson Reuters Corporation.

What were Thomson Reuters Corporation's financial results for 2024?

In 2024, Thomson Reuters reported revenue of US$7.258 billion, operating income of US$2.109 billion, and net income of US$2.207 billion. The company's total assets were valued at US$18.44 billion, with total equity at US$12.01 billion.

Who is the majority owner of Thomson Reuters Corporation?

The Woodbridge Company, which acts as a holding company for the Thomson family, is the majority owner of Thomson Reuters Corporation, holding a 67.1% stake.

How many employees did Thomson Reuters Corporation have in 2024?

In 2024, Thomson Reuters Corporation employed a total of 26,400 people worldwide.

What were the two main companies that merged to form Thomson Reuters Corporation?

Thomson Reuters Corporation was formed when Thomson Corporation acquired Reuters Group. Thus, the predecessor companies are Thomson Corporation and Reuters Group.

When was Thomson Reuters Corporation officially established?

Thomson Reuters Corporation was officially founded on April 17, 2008.

What was the origin of the Thomson company?

The Thomson company's forerunner was established in 1934 by Roy Thomson in Ontario, Canada, and its first publication was The Timmins Daily Press.

What significant media acquisitions did Roy Thomson make in the mid-20th century?

Roy Thomson acquired The Scotsman newspaper in 1953, secured the franchise for Scottish Television in 1957, and gained control of The Sunday Times in 1959. He also purchased The Times in 1967.

How did the Thomson Corporation restructure after Roy Thomson's passing?

After Roy Thomson's death, the company divested its national newspapers, including The Times and The Sunday Times, in 1981. It then focused on publishing, acquiring Sweet & Maxwell in 1988, and subsequently merged with Thomson Newspapers in 1989 to form the Thomson Corporation.

What role did West Publishing play in the Thomson Corporation's history?

The Thomson Corporation acquired West Publishing in 1996. West Publishing was a significant provider of legal research and services, notably including the Westlaw platform.

When was Reuters Group founded, and what was its initial business focus?

Reuters Group was founded in 1851 by Paul Julius Reuter in London. Its initial business was focused on transmitting stock market quotations, establishing a contract with the London Stock Exchange in October 1851.

What significant historical news event did Reuters first report?

In 1865, Reuters was the first organization to report the assassination of Abraham Lincoln.

How did Reuters Group expand its services and product offerings in the late 20th century?

Reuters Group experienced substantial growth in the 1980s, broadening its business products and global reporting network. Key product launches included Equities 2000 (1987), Dealing 2000-2 (1992), Business Briefing (1994), Reuters Television for financial markets (1994), the 3000 Series (1996), and the Reuters 3000 Xtra service (1999).

What was the corporate structure of Thomson Reuters immediately following the acquisition of Reuters?

Upon its formation on April 17, 2008, Thomson Reuters operated under a dual-listed company (DLC) structure, comprising two publicly traded parent entities: Thomson Reuters Corporation and Thomson Reuters plc.

When did Thomson Reuters unify its corporate structure and consolidate its stock listings?

In 2009, Thomson Reuters unified its dual-listed company structure, delisting from the London Stock Exchange and NASDAQ, and maintaining listings solely on the New York Stock Exchange and Toronto Stock Exchange.

What was Thomson Reuters' ranking in Canadian corporate brands in 2010?

In 2010, Thomson Reuters was recognized as the top-ranked Canadian corporate brand in Interbrand's annual assessment.

What were the major workforce reductions announced by Thomson Reuters in 2013?

In 2013, Thomson Reuters announced significant job cuts, first cutting 2,500 positions in February and then an additional 3,000 jobs in October, primarily impacting its legal, financial, and risk divisions.

Which regulatory bodies reviewed the Thomson-Reuters merger, and what was the outcome?

The Thomson-Reuters merger was reviewed by the U.S. Department of Justice and the European Commission. Both bodies approved the merger in February 2008, contingent upon minor divestments. The Canadian Competition Bureau also provided clearance.

What antitrust concerns did the European Commission investigate regarding Thomson Reuters' market practices in 2009?

In November 2009, the European Commission initiated formal antitrust proceedings to investigate Thomson Reuters for potential abuse of a dominant market position. The focus was on the company's handling of real-time market datafeeds and the use of Reuters Instrument Codes (RICs), specifically whether competitors were hindered in mapping these codes to alternative identifiers.

What were the key commitments made by Thomson Reuters to the European Commission in December 2012?

In December 2012, Thomson Reuters committed to creating a new license, called "ERL." This license allows customers to use Reuters Instrument Codes (RICs) with data sourced from competing real-time datafeed providers, for which they would pay a monthly fee.

What was the original Reuters ownership principle, and how did it change with the Thomson acquisition?

The original Reuters principle prohibited any single entity from owning more than 15% of the company to ensure neutrality. This rule was waived for the Thomson acquisition due to Reuters' financial situation, allowing The Woodbridge Company (representing the Thomson family) to hold a majority stake.

What concerns did Reuters journalists voice about the Thomson acquisition?

Reuters journalists expressed apprehension that the company's journalism business might be overshadowed by its financial data operations. They also worried about the impact on Reuters' reputation for unbiased reporting due to the concentration of ownership.

How was Thomson Reuters organized into divisions as of 2018?

As of 2018, Thomson Reuters operated through four primary divisions: Legal, Reuters News Agency, Tax & Accounting, and Government.

Which division of Thomson Reuters was the largest revenue generator in 2018?

In 2018, the Financial & Risk division represented more than half of Thomson Reuters' total revenue.

Who is Thomson Reuters' main competitor in the market for aggregating financial and legal news?

Thomson Reuters' primary competitor in aggregating financial and legal news is Bloomberg L.P.

How does Thomson Reuters' subscription model compare to open access alternatives?

Thomson Reuters' subscription services compete with open access alternatives, such as Unpaywall, which leverage open data and open-source methods. This competition is partly driven by significant increases in Thomson Reuters' subscription costs over time compared to inflation.

What happened to Thomson Reuters' Healthcare division in 2012?

In 2012, Thomson Reuters divested its Healthcare division to Veritas Capital, which then rebranded the business as Truven Health Analytics.

What was the subsequent fate of Truven Health Analytics after its acquisition by IBM?

IBM acquired Truven Health Analytics in February 2016 and integrated it into its Watson Health unit. Later, in June 2022, Francisco Partners acquired the unit and launched it as a new healthcare data company named Merative.

What was the former name of the Clarivate division of Thomson Reuters, and when did it become independent?

Clarivate was previously known as the Intellectual Property and Science division of Thomson Reuters and was also known as Thomson Scientific before 2008. It was spun off as an independent company in 2016.

To which firms was the Intellectual Property and Science division sold in 2016?

In 2016, Thomson Reuters sold its Intellectual Property and Science division for $3.55 billion to the private equity firms Onex Corporation and Baring Private Equity Asia, leading to the formation of Clarivate Analytics.

Approximately how many acquisitions did Thomson Reuters complete between 2008 and 2018?

Thomson Reuters completed more than 200 acquisitions during the period from 2008 to 2018, indicating a highly acquisitive strategy.

What was the strategic purpose behind Thomson Reuters acquiring FX Alliance Inc. in July 2012?

The acquisition of FX Alliance Inc. by Thomson Reuters aimed to strengthen its electronic foreign exchange trading services for corporations and asset managers.

What is the CLEAR database, and what is its function?

The CLEAR database, operated by Thomson Reuters, is designed for law enforcement, corporate security, and fraud investigations. It functions by compiling and scraping personal and identifying data from various sources to create comprehensive subject files.

What types of data are compiled by the CLEAR database?

The CLEAR database compiles a wide range of data, including public records, phone records, utility records, social media information, credit history, motor vehicle registration data, and scans from automatic license plate readers.

What legal issues has the CLEAR database encountered?

The CLEAR database has faced numerous lawsuits alleging violations of privacy and other civil liberties.

What action did legal scholars and human rights activists urge Thomson Reuters to take in November 2019 concerning the CLEAR database?

In November 2019, legal scholars and human rights activists called for Thomson Reuters to cease providing data from its CLEAR database to U.S. Immigration and Customs Enforcement (ICE) and Palantir Technologies, citing its role in deportations.

What was Thomson Reuters' official response to the criticism regarding its data provision to ICE?

Thomson Reuters stated that it supports the American government and police in active criminal investigations and in addressing threats to national security or public safety.

Describe the incident in 2020 involving Reuters journalists and an Indian businessman.

In 2020, Reuters journalists mistakenly used a photograph of an Indian businessman, Kumar, in a report about a hack-for-hire company, identifying him as a suspect. This led to police questioning and reputational damage for Kumar, who later relocated. Reuters acknowledged the error of mistaken identity.

What are some of the key legal and media entities listed under Thomson Reuters in the provided navboxes?

The navboxes indicate that Thomson Reuters includes legal entities such as Westlaw, Carswell, and Practical Law Company, and media entities like Reuters News Agency and Breakingviews.

What is the significance of The Woodbridge Company's ownership of Thomson Reuters?

The Woodbridge Company is the majority owner of Thomson Reuters, holding 67.1% of the company, and acts as the holding entity for the Thomson family.

What is David Thomson's role within Thomson Reuters?

David Thomson holds the position of chairman at Thomson Reuters Corporation.

What is Steve Hasker's role within Thomson Reuters?

Steve Hasker serves as the president and CEO of Thomson Reuters Corporation.

What was the initial business objective of Reuters Group upon its founding?

Reuters Group was founded with the primary objective of transmitting stock market quotations, connecting financial markets across continents.

What is the connection between Thomson Reuters and the S&P/TSX 60 index?

Thomson Reuters is listed as a constituent company within the S&P/TSX 60 index.

What is the connection between Thomson Reuters and the Nasdaq-100 index?

Thomson Reuters is listed as a constituent company within the Nasdaq-100 index.

What is the stated purpose of the CLEAR database operated by Thomson Reuters?

The CLEAR database is utilized by law enforcement, corporate security, and fraud investigators to compile and analyze personal and identifying data for investigative purposes.

What was the financial value of the Intellectual Property and Science division sale by Thomson Reuters in 2016?

In 2016, Thomson Reuters sold its Intellectual Property and Science division for $3.55 billion.

What is the official justification provided by Thomson Reuters for its involvement in criminal investigations and public safety matters?

Thomson Reuters states its involvement is to assist the American government and police in active criminal investigations and to counter threats to national security or public safety.

What was the acquisition price for Casetext by Thomson Reuters in June 2023?

Thomson Reuters acquired Casetext, a provider of AI technology for legal professionals, in an all-cash deal valued at $650 million.

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Company Overview

Corporate Identity

Thomson Reuters Corporation is a Canadian multinational conglomerate specializing in information and technology services. It operates globally, providing critical data and insights across various professional sectors.

Market Presence

The company is publicly traded on both the Toronto Stock Exchange (TSX: TRI) and the Nasdaq (TRI), signifying its substantial presence in international capital markets. Its industry is primarily categorized under mass media and information services.

Leadership and Ownership

Chaired by David Thomson, the third Baron Thomson of Fleet, and led by CEO Steve Hasker, Thomson Reuters is majority-owned by The Woodbridge Company, the private holding company of the Thomson family, underscoring a significant legacy of family stewardship.

Historical Trajectory

Genesis: Thomson Corporation

The origins trace back to Roy Thomson's founding of The Timmins Daily Press in 1934. Over decades, the Thomson Corporation evolved from a newspaper publisher into a diversified media entity, acquiring significant assets like The Times and The Scotsman, and later expanding into legal publishing with the acquisition of West Publishing in 1996.

Reuters: A Legacy of News

Founded in 1851 by Paul Julius Reuter, Reuters established itself as a pioneering news agency, initially focused on transmitting stock market quotations. Its commitment to rapid and accurate information dissemination, including early adoption of radio for news, built a formidable reputation for journalistic integrity and global reach.

The Landmark Merger

The pivotal moment arrived on April 17, 2008, when Thomson Corporation acquired Reuters Group plc, creating Thomson Reuters. This strategic union aimed to leverage the strengths of both entities, combining Thomson's financial and legal data expertise with Reuters' unparalleled news network and financial market services.

The merger involved navigating complex antitrust reviews and required minor divestitures of specific data products to maintain market competition. The company unified its dual-listed structure, consolidating its presence on major stock exchanges.

Organizational Framework

Executive Leadership

The corporation is steered by a clear leadership structure, with David Thomson serving as Chairman and Steve Hasker as President and Chief Executive Officer. This leadership guides the company's strategic direction and operational execution.

Core Business Divisions

As of recent reporting, Thomson Reuters organizes its operations into key divisions:

Legal: Providing comprehensive legal information and workflow solutions.
Reuters News Agency: Delivering trusted global news and financial market data.
Tax & Accounting: Offering software and services for tax and accounting professionals.
Government: Supplying information and solutions for government agencies.

Historically significant divisions, such as Financial & Risk, Intellectual Property & Science, and Healthcare, have been divested or integrated into other units, reflecting strategic portfolio adjustments.

Global Operations

With a presence spanning the globe, Thomson Reuters serves a diverse clientele, including legal professionals, financial institutions, tax advisors, journalists, and government bodies. Its operations are supported by a significant workforce dedicated to data integrity and service delivery.

Key Offerings

Legal Solutions

The Legal division is a cornerstone, offering extensive legal databases, research tools (like Westlaw), and workflow solutions that are indispensable for legal practitioners worldwide. This segment supports legal professionals in research, compliance, and case management.

Reuters News

The Reuters News Agency remains a globally recognized source for accurate and timely news, particularly in financial markets. Its output is crucial for financial professionals, businesses, and the media, upholding a legacy of journalistic excellence.

Financial & Risk Data

While parts of this segment have been divested into Refinitiv, Thomson Reuters continues to provide vital financial data, analytics, and trading solutions. These services are critical for market participants to make informed decisions in complex global financial environments.

Strategic Acquisitions

Growth Through Acquisition

Thomson Reuters has a history of strategic acquisitions to expand its capabilities and market reach. The company has completed hundreds of acquisitions, integrating diverse businesses and technologies to enhance its service offerings across its core sectors.

The company's acquisition strategy has been extensive, targeting firms that complement its existing portfolio:

Legal Technology: Acquisitions like Serengeti Law, Practical Law Company, and Kortes bolster its legal workflow and knowledge management capabilities.
Tax & Accounting Software: Purchases such as Dr Tax, CorpSmart, and SurePrep enhance its offerings for tax professionals.
Financial Data & Analytics: Investments in companies like Aegisoft, Point Carbon, and FX Alliance (FXall) have strengthened its financial market data and trading solutions.
AI and Data Services: Recent acquisitions like Casetext signal a strategic focus on integrating artificial intelligence into legal and professional services.

Conversely, divestitures, such as the sale of the Intellectual Property and Science business (Clarivate Analytics) and the Financial & Risk unit (Refinitiv), demonstrate a strategic focus on core competencies.

Ethical Considerations

Data Privacy and Surveillance

Thomson Reuters operates the CLEAR (Consolidated Lead Evaluation and Reporting) database, which aggregates vast amounts of personal data from public records, phone records, social media, and more. This data is utilized by law enforcement and security agencies for investigations, raising significant privacy concerns and leading to legal challenges regarding civil liberties.

Public Scrutiny and Responsibility

The company has faced criticism for its role in providing data to agencies like U.S. Immigration and Customs Enforcement (ICE), which has been linked to immigrant tracking and deportations. Shareholders have voiced concerns about the ethical implications of these data-sharing practices.

Journalistic Integrity

An incident involving Reuters investigative journalists highlighted the challenges of maintaining accuracy and avoiding reputational damage. A case of mistaken identity in reporting led to significant distress for an innocent individual, prompting an admission of error by Reuters and underscoring the critical importance of rigorous verification in journalism.

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References

The Thomson Corporation History. FundingUniverse.

"Thomson Reuters Acquires Acritas", Jeff McCoy, LegalCurrent.com. 8 November 2019. Retrieved 5 February 2020.

"Thomson Reuters Acquires Acritas", Acritas, 8 November 2019. Retrieved 5 February 2020.

A full list of references for this article are available at the Thomson Reuters Wikipedia page

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Important Notice

This content has been generated by an AI model for educational purposes, drawing upon publicly available information from Wikipedia. While efforts have been made to ensure accuracy and comprehensiveness, the information is presented as-is and may not be exhaustive or entirely up-to-date.

This is not professional advice. The information provided herein does not constitute financial, legal, or investment advice. Readers should consult with qualified professionals for advice tailored to their specific circumstances. Reliance on any information provided on this page is solely at the user's own risk.

The creators of this page are not liable for any errors or omissions, nor for any actions taken based on the information presented.

The Global Information Nexus

💡 Dive in with Flashcard Learning! 💡

Company Overview ℹ️

🏢 Corporate Identity

📈 Market Presence

👥 Leadership and Ownership

Historical Trajectory ⏳

📜 Genesis: Thomson Corporation

📰 Reuters: A Legacy of News

🤝 The Landmark Merger

Organizational Framework ⚙️

👔 Executive Leadership

🗂️ Core Business Divisions

🌐 Global Operations

Key Offerings 💡

⚖️ Legal Solutions

📰 Reuters News

📊 Financial & Risk Data

Strategic Acquisitions ➕

🛍️ Growth Through Acquisition

Ethical Considerations ⚖️

🔒 Data Privacy and Surveillance

📢 Public Scrutiny and Responsibility

📰 Journalistic Integrity

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Academic Disclaimer ⚠️

📜 Important Notice

Dive in with Flashcard Learning!

Company Overview

Corporate Identity

Market Presence

Leadership and Ownership

Historical Trajectory

Genesis: Thomson Corporation

Reuters: A Legacy of News

The Landmark Merger

Organizational Framework

Executive Leadership

Core Business Divisions

Global Operations

Key Offerings

Legal Solutions

Reuters News

Financial & Risk Data

Strategic Acquisitions

Growth Through Acquisition

Ethical Considerations

Data Privacy and Surveillance

Public Scrutiny and Responsibility

Journalistic Integrity

Teacher's Corner

True or False?

Test Your Knowledge!

Gamer's Corner

Discover other topics to study!

References

Feedback & Support

Academic Disclaimer

Important Notice