Thomson Reuters Corporation

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Type	Public
Traded as	NYSE: TRI TSX: TRI
Industry	Media conglomerate
Predecessor(s)	Reuters Group The Thomson Corporation
Founded	17 April 2008 (2008-04-17)
Headquarters	3 Times Square, Manhattan, New York City, New York, U.S.
Area served	Worldwide
Key people	Jim Smith (CEO) David Thomson (Chairman) W. Geoffrey Beattie (Deputy Chairman)
Revenue	US$ 13.8 billion (2011)
Owner(s)	The Woodbridge Company (53%)
Employees	55,000 (2010)[1]
Subsidiaries	Reuters, Sweet & Maxwell, West
Website	ThomsonReuters.com

Wikinews has related news: Thomson Corporation and Reuters agree to merge

Thomson Reuters Building in Times Square, Midtown Manhattan.

3 Times Square, as seen from 43rd Street and Broadway in New York City.

Thomson Reuters Corporation is a business data provider and was created by the Thomson Corporation's purchase of Reuters Group on 17 April 2008.^[2] Thomson Reuters is headquartered at 3 Times Square, Manhattan, New York City, New York, United States. The Woodbridge Company, a holding company for the Thomson family of Canada, owns 53% of the group,^[3] which operates in 100 countries, and has over 55,000 employees. Thomson Reuters was ranked as Canada's "leading corporate brand" in the 2010 Interbrand Best Canadian Brands ranking.^[4] Thomson Reuters operates in two divisions: Professional and Markets.

History[link]

The Thomson Corporation[link]

The Company was founded by Roy Thomson in 1934 in Ontario as the publisher of The Timmins Daily Press. In 1953 Thomson acquired the Scotsman newspaper and moved to Scotland the following year. He consolidated his media position in Scotland in 1957 when he won the franchise for Scottish Television. In 1959 he bought the Kemsley Group, a purchase that eventually gave him control of the Sunday Times. He separately acquired the Times in 1967. He moved into the airline business in 1965, when he acquired Britannia Airways and into oil and gas exploration in 1971 when he participated in a consortium to exploit reserves in the North Sea. In the 1970s, following the death of Lord Thomson, the Company withdrew from media selling the Times, the Sunday Times and Scottish Television and instead moved into publishing, buying Sweet & Maxwell in 1987. In 1989, Thomson Newspapers was merged with The Thomson Corporation. In 1996 The Thomson Corporation effectively doubled its size and ensured future profitability by purchasing West Publishing, a purveyor of legal research and solutions including Westlaw.^[5]

Reuters Group[link]

The Company was founded by Paul Julius Reuter in 1851 in London as a business transmitting stock market quotations.^[5] Reuter set up his "Submarine Telegraph" office in October 1851 and negotiated a contract with the London Stock Exchange to provide stock prices from the continental exchanges in return for access to London prices, which he then supplied to stockbrokers in Paris, France.^[5] In 1865, Reuters in London was the first organization to report the assassination of Abraham Lincoln.^[5] The company was involved in developing the use of radio in 1923.^[5] It was acquired by the British National & Provincial Press in 1941 and first listed on the London Stock Exchange in 1984.^[5] Reuters began to grow rapidly in the 1980s, widening the range of its business products and expanding its global reporting network for media, financial and economic services: key product launches included Equities 2000 (1987), Dealing 2000-2 (1992), Business Briefing (1994), Reuters Television for the financial markets (1994), 3000 Series (1996) and the Reuters 3000 Xtra service (1999).^[5]

Post acquisition[link]

The Thomson Corporation acquired Reuters Group PLC to form Thomson Reuters on April 17, 2008.^[6] Thomson Reuters operated under a dual-listed company (“DLC”) structure and had two parent companies, both of which were publicly listed — Thomson Reuters Corporation and Thomson Reuters PLC. In 2009 it unified its dual listed company structure and stopped its listing on the London Stock Exchange and NASDAQ. It is now listed only as Thomson Reuters Corporation on the New York Stock Exchange and Toronto Stock Exchange (symbol: TRI).^[7][8]

In June 2008 it was reported that it would be launching a news channel to rival Bloomberg and CNBC.^[9] This has turned out to be a false report as Thomson Reuters is not entering into an already crowded cable business.

Operations[link]

The Chief executive of the combined company is Jim Smith, who was the chief executive for the Professional Division, and the chairman is David Thomson, who was the chairman of Thomson.^[10][11][12]

The Company is organized into two divisions:^[13]

• Markets Division:^[14]
  • Financial Professionals & Marketplaces
  • Enterprise Solutions
  • Media

• Professional Division:
  • Legal – formerly North American Legal and Legal & Regulatory; including West, makers of Westlaw, and Carswell
  • IP & Science – formerly Thomson Healthcare and Thomson Scientific
  • Tax & Accounting – formerly Thomson Tax & Accounting

Thomson Reuters shares are listed on the Toronto Stock Exchange (TSX: TRI) and the New York Stock Exchange (NYSE: TRI).

In late 2011, Thomson Reuters announced a new organizational structure with five divisions: the Markets business will be part of a new division called Financial and Risk business unit headed by David Craig. The other four division are: Legal; Intellectual Property & Science; Tax & Accounting; and Global Growth Organization.^[15]

Market position and antitrust review[link]

Thomson Reuters Building as seen from 8th Avenue.

The transaction was reviewed by the U.S. Department of Justice and by the European Commission. On February 19, 2008, both the Department of Justice and the Commission cleared the transaction subject to minor divestments.^[16] The Department of Justice required the parties to sell copies of the data contained in the following products: Thomson's WorldScope, a global fundamentals product; Reuters Estimates, an earnings estimates product; and Reuters Aftermarket (Embargoed) Research Database, an analyst research distribution product. The proposed settlement further requires the licensing of related intellectual property, access to personnel, and transitional support to ensure that the buyer of each set of data can continue to update its database so as to continue to offer users a viable and competitive product.^[17] The European Commission imposed similar divestments: according to the Commission's press release, "the parties committed to divest the databases containing the content sets of such financial information products, together with relevant assets, personnel and customer base as appropriate to allow purchasers of the databases and assets to quickly establish themselves as a credible competitive force in the marketplace in competition with the merged entity, re-establishing the pre-merger rivalry in the respective fields."^[18]

These remedies are viewed as very minor given the scope of the transaction. According to the Financial Times, "the remedy proposed by the competition authorities will affect no more than $25m of the new Thomson Reuters group’s $13bn-plus combined revenues."^[19]

The transaction was cleared by the Canadian Competition Bureau.^[20]

In November 2009, The European Commission opened formal anti-trust proceedings^[21] against Thomson Reuters concerning a potential infringement of the EC Treaty's rules on abuse of a dominant market position (Article 82). The Commission will investigate Thomson Reuters' practices in the area of real-time market datafeeds, and in particular whether customers or competitors are prevented from translating Reuters Instrument Codes (RICs) to alternative identification codes of other datafeed suppliers (so-called 'mapping') to the detriment of competition.

The opening of proceedings does not imply that the Commission has proof of an infringement. It signifies that the Commission will conduct an in-depth investigation of the case as a matter of priority.

Purchase process[link]

Historically, no single individual has been permitted to own more than 15% of Reuters, under the first of the Reuters Principles, which states, "Reuters shall at no time pass into the hands of any one interest, group or faction."^[22] However, that restriction was waived for the purchase by Thomson, whose family holding company, the Woodbridge Company currently owns 53% of the enlarged business. Robert Peston, business editor at BBC News, stated that this has worried Reuters journalists, both because they are concerned that Reuters' journalism business will be marginalized by the financial data provision business of the combined company, and because of the threat to Reuters's reputation for unbiased journalism by the appearance of one majority shareholder. Pehr Gyllenhammar, chairman of the Reuters Founders Share Company, explained that the Reuters Trust's First Principle had been waived for the Thomson family because of the poor financial circumstances that Reuters had been in, stating, "The future of Reuters takes precedence over the principles. If Reuters were not strong enough to continue on its own, the principles would have no meaning." He stated, not having met David Thomson but having discussed the matter with Geoff Beattie, the president of Woodbridge, that the Thomson family had agreed to vote as directed by the Reuters Founders Share Company on any matter that the trustees might deem to threaten the five principles of the Reuters Trust. Woodbridge will be allowed an exemption from the First Principle as long as it remains controlled by the Thomson family.^{[23][24][25][26]}

Acquisitions[link]

In July 2009 Thomson Reuters acquired Streamlogics.^[27] Founded in 1999, Streamlogics is a leading provider of customizable, high volume, real time data mining solutions ^[28] for hundreds of enterprises across several verticals including financial services, technology and health care/life sciences. Streamlogics' webcasting solutions are used for training and certification, marketing and lead generation, and corporate communications.^[29]

In August 2009 Thomson Reuters bought Vhayu Technologies. Vhayu is one of the world's leading providers of tick data services, and Thomson Reuters had been distributing its Velocity product under the Reuters Tick Capture Engine label for the four years prior to the acquisition.^[30]

On September 21, 2009, Thomson Reuters bought Hugin Group, the European IR and PR distribution group, from NYSE Euronext. Terms have not been disclosed, but it has been reported in Danish newspapers that the price was between €40 million and €42m.^[31]

In November 2009 The Tax & Accounting business acquired Sabrix, Inc, a leading global provider of transaction tax management software applications and related services.^[32]

In February 2010 Thomson Reuters acquired Aegisoft LLC to improve their electronic trading capabilities by offering direct market access.^[33]

In May 2010 Thomson Reuters acquired Point Carbon A/S, a Norwegian company that provides news and trading analytics for the energy and environmental markets.^[34]

In October 2010, Thomson Reuters acquired Serengeti Law, a matter management and ebilling system.

In November 2010, Thomson Reuters acquired the legal process outsourcing (LPO) provider Pangea3. Pangea3 serves corporate legal departments and law firms worldwide. Financial Terms of the deal were not disclosed.^[35]

In November 2010, Thomson Reuters acquired the banking data and analytic provider, Highline Financial.

In November 2010, Thomson Reuters acquired GeneGo, the leading supplier of systems biology databases, software and services.^[36]

In December 2011, Thomson Reuters acquired Emochila, a leading website development firm in the tax and accounting space, in order to further integrate its CS suite of products onto a cloud-based platform.^[37]

In January 2012, Thomson Reuters acquired Dr Tax, Canada’s largest independently owned developer of income tax software for accounting firms and consumers.^{[38] [39]}

In February 2012, Thomson Reuters acquired RedEgg, a leading provider of media intelligence solutions for public relations and marketing professionals. ^[40]

See also[link]

• ISI Web of Knowledge
• Thomson Reuters Citation Laureates

Sponsorships[link]

Thomson Reuters has sponsored Canadian golf champion Mike Weir and the AT&T Williams Formula One team. It also sponsors Marketplace, a radio show from American Public Media.

References[link]

Further reading[link]

• Peter Kaplan (2007-05-04). "Thomson Reuters deal would raise U.S. antitrust issue". Reuters. http://www.reuters.com/article/reutersEdge/idUSN0443007720070504. 
• Penny Crosman (2007-05-16). "How Will the Thomson Reuters Marriage Affect Customers?". Wall Street & Technology (CMP Media LLC). http://www.wallstreetandtech.com/blog/archives/2007/05/how_will_the_th.html. 
• Ian Austen (2007-05-09). "Combined Thomson Reuters Would Challenge Bloomberg". New York Times. http://www.nytimes.com/2007/05/09/business/media/09reuters.html?ex=1336363200&en=7605dd8d471438d3&ei=5088&partner=rssnyt&emc=rss. 
• Jerry Bowles (2007-06-18). "Reuters using social media software to launch community around environmental markets". WebPro News. http://www.webpronews.com/blogtalk/2007/06/18/reuters-on-blogtronix. 
• Ovide, Shira (2011-07-26). "Crunch Time at Thomson Reuters". Wall Street Journal. http://online.wsj.com/article/SB10001424053111903591104576468410542713854.html.  "CEO Glocer Is Under Pressure After Restructuring Backed by Controlling Family".

External links[link]

	New York City portal
	Companies portal

• Official website
• Reuters Interactive powered by BTX Enterprise
• Reuters Insider
• Thomson Reuters On Demand

v t e Thomson Reuters Professional Division Legal (US & Intl.) Carswell · Derwent World Patents Index · FindLaw (Writ) · La Ley · Sweet & Maxwell (IDS) · West · Westlaw · West LegalEdCenter Healthcare & Science Web of Knowledge (Current Contents · Journal Citation Reports) Web of Science (Science Citation Index · Social Sciences Citation Index · Arts and Humanities Citation Index) · BIOSIS Previews (Biological Abstracts · The Zoological Record) · EndNote · Physicians' Desk Reference · ResearcherID · Thomson Reuters Citation Laureates Markets Division Breakingviews · EcoWin · Extel Surveys · I/B/E/S · ITN (20%) · Lipper · Reuters · Thomson Reuters Business Classification · Thomson Reuters Indices · Thomson Reuters/Jefferies CRB Index · Thomson Reuters league tables · Thomson Reuters Messenger · Thomson Reuters Realized Volatility Index Predecessors Reuters Group · The Thomson Corporation Other 3 Times Square · Tom Glocer · David Thomson · The Woodbridge Company Category

Kenneth (Ken) Olisa, OBE FRSA FBCS is a British businessman born (1951) of a Nigerian father and a British mother.

Olisa attained an MA in Natural, Social & Political and Management Sciences from Cambridge University (Fitzwilliam College).

His technology career spans over 30 years commencing with IBM from whom he won a scholarship while at Cambridge University. At IBM he held various posts in systems engineering, sales and marketing, before joining Wang Laboratories in 1981. Following a period as Marketing Director for Europe, Vice President of US Marketing and then of Worldwide Marketing, Ken was appointed Senior Vice President and General Manager of Wang Europe, Africa and the Middle East. In this role, he was responsible for the sales, marketing, support, service and administration activities within 11 subsidiaries and 92 distributors.

After leaving Wang in 1992, Ken founded Interregnum, the technology merchant bank, which he led to a £100+m IPO on AIM in 2000.

Today he leads boutique technology merchant bank — Restoration Partners based in London.

He was elected as a Fellow of the British Computer Society in 2006. In addition to his entrepreneurial/private equity activities, Ken has considerable public company Board-level experience on both sides of the Atlantic. His connection with AIM dates back to the market’s foundation. In 1995, he chaired Voss Net, the first UK ISP (Internet Service Provider) to go public and one of the first companies to list on AIM. He was later Chairman of the Board of the first Israeli company to list its shares on AIM – DMATEK. He is currently a director of Thomson Reuters; and formerly served as Director of Eurasian Natural Resources Corporation (ENRC) from 2008 to 2011, and of Open Text Corporation from 1998 to 2008.

As a Freeman, Ken Olisa is familiar with the workings of the City of London. Further, he is actively involved with the City of London’s governance by serving as Deputy Master of the Worshipful Company of Information Technologists; where he was Master from October 2010 - October 2011. In 2003, Ken was named the BVCA/Real Deals Private Equity Personality of the Year and he was named NEDA/Sunday Times Non Executive Director of the Year for 2009. He was named one of the UK's ten most influential black businessmen in the 2008, 2009, 2010 and 2011 Power Lists.

Ken’s pro bono activities include Chairman of Thames Reach, a charity working to end street homelessness in London, a Director of the Thomson Reuters Foundation, a member of the Independent Parliamentary Standards Authority, and Chairman of the Powerlist Foundation.

Ken was an inaugural member of the Postal Services Commission from 2000 to 2004 and a Governor of the Peabody Trust for a decade until 2007.

Sources[link]

• Interview with The Sunday Times
• Thomson Reuters Profile of Ken Olisa
• Eurasian Natural Resources Profile of Ken Olisa
• Profile of Ken Olisa at Thames Reach

The Holidays
The Holidays
Background information
Origin	Sydney, Australia
Genres	Indie rock, Pop rock, Soul
Years active	2006 - present
Labels	Liberation (Australia), Rallye Label (Japan)
Website	Official Website Myspace
Members
Simon Jones Will Magnus Alex Kortt Andrew Kerridge

The Holidays are an Australian indie pop/soul band. Formed in Sydney in 2006, the band consists of Simon Jones, Will Magnus, Alex Kortt and Andrew Kerridge. The band is most notably known for their Australian Music Prize nominated debut album Post Paradise.

Biography[link]

The Holidays formed in late 2006 and quickly established themselves in the Sydney music scene as an upbeat, energetic addition. Simon Jones & Will Magnus had attended high school together, previously playing in cover bands in their schools' band competition. They were often up against the band Roger Explosion in these competitions, who went on to become the Australian electro-pop band Art vs. Science.

Within their first year as a band together, The Holidays toured with Jamie T,^[1] with The View,^[2] with Ben Kweller,^[3] and recorded an EP of demos which quickly sold out at gigs and received regular airplay on radio stations both in Australia^[4] and in the USA. In November 2007 The Holidays were featured on the Next Crop segment of national youth radio station Triple J,^[5] soon followed by their signing with independent Australian record label Liberation Music, in early 2008.

The Holidays released their debut EP on 19 April 2008 to positive reviews^[6] which was followed by a substantial national tour to promote the release. They released their second EP "When The Ship Goes Down" in October 2008, which showed the band's natural progression with song-writing. Recorded with Wayne Connolly of The Vines and Josh Pyke fame, this EP was followed by a 20 date national tour, co-headlining with Brisbane band Yves Klein Blue.

The Holidays' debut album Post Paradise soon followed, after several months of writing and experimenting. Drawn away from the simplicity of their earlier indie guitar manifestation, Post Paradise showed the bands development with both the groove and layers of a song, combined with their recognizable pop hooks. This album differed from previous recordings by The Holidays' in that it was self-produced and recorded in various locations around Sydney and New South Wales.

"Moonlight Hours", the first single from their debut album was taken to radio in November 2009, and added to high rotation on national youth radio station Triple J. "Golden Sky" was the second single from The Holidays debut album, released in May 2010, which was followed by an east coast tour of Australia to promote the release. There is a music video for both these singles, made by Melbourne company Moop Jaw.

"Post Paradise" was released in Australia on 24 September 2010, in conjunction with third single, Broken Bones, which was added to radio nationally. The album has received very positive reviews since its release, which included amongst other reviews, being shortlisted for the Australian Music Prize and winning the Red Bull Award for Best Debut Album. Post Paradise also received "Album of the Week" in Drum Media, Beat Magazine, BMA Mag & The Brag,^[7] 4.5 stars in The Herald Sun, The Daily Telegraph & The Courier Mail, as well as positive reviews in The Age & The Sydney Morning Herald. Post Paradise won The Age Readers Choice Best Album of 2010,^[8] and was the Triple J Feature Album for the week commencing 26 December 2010.

The Holidays toured Post Paradise substantially in 2010 and 2011, including shows at SXSW in Austin, Texas, The Great Escape Festival in Brighton, UK, and Australian festivals including Groovin' the Moo, Laneway Festival and Splendour in the Grass. The Holidays' current live show incorporates a fifth touring member, David Zucker as percussionist, as well occasional backing vocalists.

Members[link]

• Simon Jones - Vocals, Guitar, Keys, Production
• Will Magnus - Lead Guitar, Keys
• Alex Kortt - Bass Guitar
• Andrew Kerridge - Drums, Percussion, Supreme Aficionado

Touring[link]

• Toured with Jamie T in May 2007
• Toured with The View in June 2007
• Toured with Ben Kweller in October 2007
• Played nationally at the 2008 St Jerome's Laneway Festival
• Toured with The Wombats in March 2008
• Toured with Lightspeed Champion in July 2008
• Played at Homebake 2008
• Played at Falls Festival 2008
• Toured with Bluejuice in April 2010
• Played at St Jerome's Laneway Festival 2011 across Australia
• Played at SXSW in Austin, Texas in March 2011
• Played at the Groovin' the Moo Festival across Australia in May 2011
• Toured with Cut Copy in Australia in May 2011
• Played at The Great Escape Festival in Brighton, and Dot to Dot Festival across the UK in May 2011
• Played at Splendour In The Grass in August 2011.
• Played at the inaugural Harvest Festival in Melbourne, Sydney & Brisbane in November 2011 along with The Flaming Lips, Portishead and Tv on the Radio.

Discography[link]

Albums[link]

• Post Paradise (Australia - 24 September 2010, Japan - January 2011)

EPs[link]

• The Holidays (19 April 2008)
• When The Ship Goes Down (11 October 2008)
• Golden Sky (Australia - May 2010, UK - August 2010 )

Singles[link]

• Moonlight Hours (December 2009)
• Golden Sky (May 2010)
• Broken Bones (September 2010)
• 2 Days (February 2011)

Awards & Nominations[link]

• 2010 The Age EG Award - Readers Choice Best Album of 2010 - Won
• 2010 Australian Music Prize - Nominated
• 2010 Australian Music Prize - Red Bull Award for Best Debut Album - Won
• 2011 Jägermeister Independent Music Awards - Breakthrough Independent Artist of the Year - Nominated

Further information[link]

• The Holidays song 'Telephone' was featured on an Australian television advertising campaign for Clearasil in late 2007.
• The Holidays song 'Golden Sky' was used in the Channel 7 summer 2010/2011 advertising campaign.
• Simon Jones collaborated & sung vocals with Australian dance duo Bag Raiders on the track 'Not Over' from their eponymous debut album.

References[link]