Thomson and Reuters complete merger

Posted by Carolyn Lo on April 17, 2008 at 8:43 AM

Canada's Thomson Corp. and Britain's Reuters officially completed their integration today, creating Thomson Reuters Corp., now the world's biggest provider of financial data to trading floors according to AFP, which launched on the London stock market today.

Reuters' former chief executive Tom Glocer is heading the new company, headquartered in New York with around 50,000 staff in 93 countries across the world.

"Thomson Reuters will benefit from the value created by more diversified revenue streams, a larger capital base and synergies resulting from the acquisition," Glocer said. "Our leadership position and global footprint will give us opportunities to grow faster than either Thomson or Reuters could have on its own."

Thomson Reuters will strengthen its financial news and data, but Glocer stated that a general and political news division, including entertainment coverage will also be included because it is all "so incredibly intertwined into the economy."

Source: AFP, Yahoo through IFRA Executive News Service