Search »

Thomson-Reuters Merger Could Threaten Bloomberg

The boards of both Thomson and Reuters believe there is a “powerful and compelling logic” for the proposed merger, the two companies said in a statement.

Should the companies merge, the current chief executive of Reuters, Thomas Glocer, would head the combined operation, while Thomson’s chief executive, Richard J. Harrington, would retire, writes The New York Times.
Glocer told Reuters staff members in a memo that David Schlesinger would remain the editor in chief of the Reuters news service in the event of a merger. Other senior positions would be divided among people from the two companies.

The merged company would constitute major competition for Bloomberg, the current leader in information, data and analytical software for the financial community.

David Anderson, editor of Inside Market Data Reference, which tracks the business, says that Thomson-Reuters would have 34 percent of the market for financial data, while Bloomberg would have 33 percent.

Rupert Murdoch’s News Corp. recently made an unsolicited bid for Dow Jones. Though Dow Jones has said it will take no action on the bid, anlaysts have said that should such a merger eventually happen CNBC and Reuters could face serious competition