FIRST AIRED: January 30, 2018

Nice work! Enjoy the show!

×

You’re busy. We get it.

Stay on top of the news with our Editor’s Picks newsletter.

US Edition
Intl. Edition
Unsubscribe at any time. One click, it’s gone.

Thanks for signing up!

×

Transcript

00:00:01
>> Private equity firm Blackstone is in advanced talks to take a major stake in data company Thomson Reuters. That's according to three sources, which would give Blackstone the data it needs to go head to head with the likes of Bloomberg and Dow Jones.>> I'm Conway Gettons. The board of Thomson Reuters, the parent of Reuters TV is expected to meet on Tuesday to discuss the offer that was made public the day before.
00:00:26
Now this deal has to do with the data and does not include Reuters global news service. But sources tell Reuters that Blackstone has offered $325 million annually for 30 years to get access to Reuters news content. As for the bigger deal, sources tell Reuters that Blackstone is willing to pony up more than $17 billion.
00:00:53
For a major stake in the unit that supplies information, data, analytics and trading tools through desktop and mobile systems to the world's banks and investment houses. But the demand for such data has shrinking ever since the financial crisis when Wall Street started laying off workers. If the deal goes through, it would be the biggest shakeup of the company since Canada's Thomson Corp purchased UK-based Reuters back in 2008.
00:01:21
Reports of a deal in the works sending shares of Thomson Reuters surging as much as 10% in US trading, marking the stock's biggest one day gain in nine years. And putting it at the top of the winner's list on the New York Stock Exchange. Thomson Reuters management confirmed talks in a letter to staff.
00:01:40
Blackstone declined to comment.