Wed, Sep. 16, 6:35 PM
- Thomson Reuters (TRI +1.3%) has added two directors to its board, effective immediately.
- Ed Clark and Barry Salzberg are joining the board. Clark was CEO of TD Bank Group until his 2014 retirement and will serve on the HR committee.
- Salzberg was Global CEO of Deloitte Touche Tohmatsu until his retirement in May. He had joined Deloitte in 1977. He'll join the audit committee.
Tue, Aug. 25, 6:02 PM
- Thomson Reuters (NYSE:TRI) says it's planning to buy up to 10M of its common shares in private deals with third parties -- part of a previously announced buyback program allowing up to 30M shares.
- In May, the company said it planned to buy back up to $1B in shares by the end of next year.
- Thomson Reuters says it will pay a discount to the prevailing price in Toronto at purchase time.
- Shares are up 1.8% after hours in U.S. trading.
Wed, Jul. 29, 10:31 AM
- Thomson Reuters (NYSE:TRI) is up 4.3% after posting a Q2 report where profits beat expectations and revenues grew slightly on a constant-currency basis.
- Underlying operating profit of $576M was down 1%, but up 7% before currency effects. Adjusted EBITDA fell 2% to $856M but beat an expected $847.6M.
- Revenues that declined 3.8% on a headline basis were up 2% before currency effects, and organic revenues grew 2%.
- Revenue by segment: Financial & Risk, $1.552B (down 6%); Legal, $840M (down 1%); Tax & Accounting, $327M (up 1%); Intellectual Property & Science, $248M (down 1%); Corporate and other including News, $74M (down 10%).
- The company reaffirmed its full-year outlook, including positive organic revenue growth, adjusted EBITDA margin of 27.5%-28.5%, operating profit margin of 18.5%-19.5% and free cash flow of $1.55B-$1.75B.
- Press Release
Wed, Jul. 29, 7:05 AM
Fri, Jul. 24, 10:52 PM
- After holding its 50% of the Economist Group (publishers of The Economist) out of the sale of the Financial Times to Nikkei, Pearson (NYSE:PSO) is now reportedly in separate talks to sell the Economist stake.
- The sale to a "diversified western media company" -- possibly Bloomberg? -- is expected to draw about £500M (about $775.5M), Politico Europe reports. That implies a whole group value of £1B, 17 times annual operating earnings.
- The sale wouldn't give the buyer control of the Economist Group, as the other 50% is held by diverse shareholders who will have a say in the buyer. Only five buyers were considered suitable to take on the Financial Times, the paper reported: Bloomberg, Thomson Reuters (NYSE:TRI), Vivendi (OTCPK:VIVHY), German publisher Axel Springer (OTC:AXELF) and Nikkei.
- Politico Europe is a venture with Axel Springer, who was rumored to be buying the Financial Times before the sale was confirmed to Nikkei. Springer reportedly offered about £750M for the FT compared to Nikkei's £844M.
- Unloading media properties is in line with Pearson's stated desire to refocus on its core education business.
- Previously: Pearson up slightly after 5% revenue growth (Jul. 24 2015)
- Previously: Pearson confirms $1.31B sale of Financial Times to Nikkei (Jul. 23 2015)
Tue, Jun. 9, 2:29 PM
- Thomson Reuters (NYSE:TRI) says for the first time it will offer a subset of Reuters multimedia news for free to digital publishers for redistribution.
- The move means publishers can download and use packages including text, pictures, video and multimedia produced by the news organization.
- It could expand usage and offerings in its Reuters Media Express publisher platform. The company said it would pursue expansion via its Reuters Live Online service and a Content Solutions business that supplies brands with custom content.
Fri, Jun. 5, 11:53 AM
- Thomson Reuters (TRI -0.8%) has wrapped a sale of its Fiduciary Services and Competitive Intelligence unit to Broadridge Financial Solutions (BR -0.2%), a deal announced two weeks ago.
- As planned, the two will enter into an arrangement where Thomson Reuters Lipper will supply data on "investment product classifications, pricing, performance, benchmarking, product asset positions, and product flows."
- TRI's personnel in Denver, London and Gdynia, Poland, will join Broadridge, which will integrate them into its Mutual Fund and Retirement Solutions Group.
Thu, May 21, 12:15 PM
- Thomson Reuters (TRI +0.5%) has agreed to sell its Fiduciary Services and Competitive Intelligence division to Broadridge Financial Solutions (BR -0.4%).
- The unit was part of the Thomson Reuters Lipper business. The deal also includes long-term licensing of Thomson Reuters data.
- The division provides information on fund industry flows by country and distribution channel. Broadridge will integrate it into its mutual fund and retirement business.
- The deal is expected to close during Broadridge's fiscal Q4 (ending in June).
Wed, May 6, 9:18 AM
- Thomson Reuters (NYSE:TRI) announces a new $1B share repurchase program to be completed by the end of 2016.
- The company's previous authorization, set in July 2014 for $1B in buybacks, is mostly wrapped up.
- TRI's been buying under its normal course issuer bid, which expires May 27, and it plans to renew it upon expiration.
Wed, Apr. 29, 9:01 AM
- Thomson Reuters (NYSE:TRI) posted first-quarter earnings that were largely in line with its full-year expectations, on revenues that slipped 3% on forex issues but grew 2% before currency. Forex had a -0.06 impact on EPS of $0.44.
- Adjusted EBITDA of $803M fell 2% and missed an expected $816M. Underlying operating profit fell 2% to $515M, for a margin of 16.9% (flat).
- Revenue by segment: Financial & Risk, $1.55B (down 6%); Legal, $810M (up 1%); Tax & Accounting, $373M (up 7%); Intellectual Property & Science, $237M (down 2%); Corporate and Other, $74M (down 6%).
- The company reaffirmed 2015 outlook, including positive organic revenue growth, adjusted EBITDA margin of 27.5%-28.5%; operating profit margin of 18.5%-19.5%; and free cash flow of $1.55B-$1.75B.
- Press release
Wed, Apr. 29, 7:03 AM
Thu, Apr. 16, 11:44 AM
- Thomson Reuters (NYSE:TRI) is 2.1% lower in early trade today as RBC Capital Markets calls it "due for a pause" and downgrades to Sector Perform.
- The firm previously had an Outperform rating on TRI. It says it's still positive on the turnaround story, but "we would be patient for a more timely entry point."
- RBC expects headwinds this year from currency issues and the Thomson One migration may dissipate; it says 2015 consensus estimates are too high, while those for 2016 may be too low.
- RBC's price target for TRI remains at $41; shares are trading at the moment at $41.42.
Thu, Apr. 9, 1:12 PM
- Reuters (NYSE:TRI) news division chief Andrew Rashbass is departing the company to take over as executive chairman at European publisher Euromoney Institutional Investor (OTC:EMYIF). Euromoney shares rose 4.5% in London trading.
- Rashbass -- who had joined Reuters from his CEO job at The Economist Group -- succeeds Richard Ensor, who's retiring at September's end.
- Meantime, Reuters Editor-in-Chief Stephen Adler will take responsibility for the commercial side while the division seeks a new CEO.
Wed, Mar. 25, 2:39 PM
- Global spending for financial market data and news reports increased 4.1% last year to accelerate from the pace seen over the previous few years.
- Privately-held Bloomberg L.P. gained market share over rival Thomson Reuters (TRI -1%) in the category amid an increasing pace of changes in its editorial department.
- Thomson Reuters reported revenue from Reuters News fell 1% in 2014, but didn't break down results for financial news operations.
- 2014 financial data/news market share: Bloomberg +28 bps to 31.99%, Thomson Reuters -105 bps to 25.88%.
Fri, Mar. 20, 7:51 AM
- Reuters (NYSE:TRI) news service is now unavailable in China to join a growing list of websites which are apparently being blocked by the government's Internet regulator.
- News websites for Bloomberg News, the New York Times (NYSE:NYT), and the Wall Street Journal (NASDAQ:NWS) have been inaccessible due to what media watchers think is intervention from Beijing.
Wed, Feb. 11, 10:14 AM
- Thomson Reuters (NYSE:TRI) is off 3.2% after revenues declined and missed expectations, and underlying operating profit and EBITDA were flat when excluding extraordinary charges.
- Adjusted EBITDA of $794M (flat when excluding charges) missed an expected $842.1M. Free cash flow was up 205% to $570M.
- Segment revenues: Financial & Risk, $1.597B (-1% excluding currency effects); Legal, $872M (+2%); Tax & Accounting (+10%); IP and Science, $269M (-1%); Corporate & Other, including Reuters News, $79M (flat).
- The company's raised its dividend an annualized $0.02 to $1.34/year; a quarterly dividend of $0.335 is payable March 16 to shareholders of record Feb. 23.
- TRI expects "positive organic revenue growth" in 2015 along with an adjusted EBITDA margin between 27.5% and 28.5%, with underlying operating profit margin between 18.5% and 19.5%. The firm expects free cash flow for the year in a range of $1.55B-1.75B.
- Press release
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