17:56:45 EDT Thu 28 Mar 2024
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or Name
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Thomson Reuters Corp
Symbol TRI
Shares Issued 562,025,293
Close 2018-11-13 C$ 63.53
Market Cap C$ 35,705,466,864
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Globe says Thomson Reuters names news head

2018-11-14 08:18 ET - In the News

The Globe and Mail reports in its Wednesday edition that Thomson Reuters has appointed former IDG Communications chief Michael Friedenberg as president of Reuters news and media operations. A Reuters dispatch to The Globe says that Mr. Friedenberg will join the company on Dec. 3 and report to Jim Smith, president and chief executive officer of Thomson Reuters. He will be based in New York. Mr. Friedenberg stepped down as global CEO of IDG Communications, a technology media, data and marketing services company, in October last year. Thomson Reuters sold a majority stake in its financial terminal business to private equity firm Blackstone Group this year. As part of that deal, the new company now called Refinitiv will make minimum annual payments of $325-million to Reuters over 30 years to secure access to its news service, equating to almost $10-billion (all figures U.S.). Reuters News will have about $625-million in revenues, including the annual payment from Refinitiv and about $300-million in revenues from its media business, slightly higher than its cost base. The Woodbridge Co. Ltd., the Thomson family holding company and controlling shareholder of Thomson Reuters, also owns The Globe.

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