Truth is neither Refin nor TR really wants Reuters. Costs have been uncontrollable, there's no differentiator in the segment that actually makes money, and the margins are laughable.
The problem is, who would want to buy this money-losing pit?
Sad but true point from @YKPz9ab-lxfb.
FFS when are they actually gonna fix their market news? This is absolutely ridiculous.
Spare us the useless PowerPoint slides and show us the newsflow
Not seeing it mate
Is the supposed large scale reorganisation in Reuters actually translating to a noticeable improvement in their market relevant news or is it just another meaningless exercise?
Can they carve up Reuters for sale? Sell the financial news to LSE and the multimedia whatever to whoever actually wants to buy it
@kufl Having Reuters in the shop is more of a brand risk than a boost!
Agree that Reuters has to go. But the question as OP pointed out is who would want to buy Reuters?
TR should really offload Reuters somewhere. We'd have to book a hefty capital loss, sure, but that's probably a better alternative than continuously throwing money down the drain. Business stability is more important than branding.
Ive always found it ironic that the journalists are always complaining about job cuts but they seem to be doing everything they can to hasten the job cuts
Their disdain for business or commercial reality will be their downfall. Can't be ostrich with head in sand forever
What do u expect from a bunch of editors who've probably never read a balance sheet?
The first time I attended a meeting with Tom Glocer - at 195 Broadway-,Hrannywho was the head of Reuters and became head of TR when Thomson bought Reuters I said to myself “We are in a ****load of trouble”. He came across like such an arrogant, incompetent jerk. Reuters fur three years essential ran Thomson Reuters and did a lousy job of it.
to be fair there are a number of competent, hardworking rank and file staff at reuters - not their fault that their leaders are clueless about what creates value for the market and keep changing strategy.
my sense is they think the revenue stream from refin is locked in. but i think that's hubris. which company owned by a PE fund will happily pay $325M a year without any KPIs built into the deal?
Times like this at least it's good if theres some soulsearching of what actually creates value. In normal times there's too much backslapping and selfpraise.
some people can't handle the truth?
Sir,
You have just insulted many a British b---s--- artist.
Good day to you
If you miss the news, write a long feature out of it! That seems to be their specialty nowadays.
I think that's the point. Reuters cannot continue mooching off the rest of the TR units (legal, tax etc) like somekind of a welfare state. They'll have to stand on their own as a P&L entity.
Even with Refin paying $325M a year they'll still have to chop down costs massively given their bloated structure.
Probably a badly needed dose of reality for their journalist leadership.
Possibly one of the worst corporate acquisitions ever made.
It's so value-destructive for TR you can't imagine.
You can harp on and on about the brand but if you can't monetize it then it'll always be a cost center. It's like having a rogue unit full of people with no shred of connection to the commercial reality - it's like they're on La La Land!
Thomson’s buying of Reuters was a predictable disaster. Old Man Thomson was against it. The corporate culture has changed for the worse.