about the thomson reuters corporation . for the thomson reuters foundation see thomson reuters foundation . thomson reuters corporation headquarters in times square new york type public traded as nyse tri tsx tri s & p tsx 60 component industry mass media predecessor reuters group the thomson corporation founded 17 april 2008 2008 04 17 toronto ontario canada headquarters 3 times square new york new york united states operations 333 bay street suite 400 toronto ontario canada legal domicile area served worldwide key people david thomson chairman james c. smith ceo 1 revenue us 12.607 billion 2014 2 operating income us 2.498 billion 2014 2 net income us 1.909 billion 2014 2 total assets us 30.597 billion 2014 2 total equity us 14.178 billion 2014 2 owner the woodbridge company 59.6 % 3 number of employees 53 000 q1 2015 4 subsidiaries reuters sweet & maxwell west website thomsonreuters.com wikinews has related news thomson corporation and reuters agree to merge thomson reuters building in canary wharf london borough of tower hamlets . thomson reuters corporation r t rz is a major multinational mass media and information firm founded in toronto ontario canada . its operations are headquartered at 3 times square in manhattan new york city while its legal domicile offices are located at 333 bay street in downtown toronto . 5 6 thomson reuters was created by the thomson corporation s purchase of british based reuters group on 17 april 2008 7 and is majority owned by the woodbridge company a holding company for the thomson family . 8 thomson reuters was ranked as canada s leading corporate brand in the 2010 interbrand best canadian brands ranking . 9 thomson reuters operates in more than 100 countries and has more than 60 000 employees around the world . 4 contents 1 history 1.1 the thomson corporation 1.2 reuters group 1.3 post acquisition 2 operations 3 market position and antitrust review 4 purchase process 5 acquisitions 6 sponsorships 7 see also 8 references 9 further reading 10 external links history edit the thomson corporation edit main article thomson corporation the company was founded by roy thomson in 1934 in ontario as the publisher of the timmins daily press . in 1953 thomson acquired the scotsman newspaper and moved to scotland the following year . he consolidated his media position in scotland in 1957 when he won the franchise for scottish television . in 1959 he bought the kemsley group a purchase that eventually gave him control of the sunday times . he separately acquired the times in 1967 . he moved into the airline business in 1965 when he acquired britannia airways and into oil and gas exploration in 1971 when he participated in a consortium to exploit reserves in the north sea . in the 1970s following the death of lord thomson the company withdrew from national newspapers and broadcast media selling the times the sunday times and scottish television and instead moved into publishing buying sweet & maxwell in 1988 . the company at this time was known as the international thomson organisation ltd itol . 10 in 1989 itol merged with thomson newspapers forming the thomson corporation . in 1996 the thomson corporation acquired west publishing a purveyor of legal research and solutions including westlaw . 11 reuters group edit main article reuters group the company was founded by paul julius reuter in 1851 in london as a business transmitting stock market quotations . 11 reuter set up his submarine telegraph office in october 1851 and negotiated a contract with the london stock exchange to provide stock prices from the continental exchanges in return for access to london prices which he then supplied to stockbrokers in paris france . 11 in 1865 reuters in london was the first organization to report the assassination of abraham lincoln . 11 the company was involved in developing the use of radio in 1923 . 11 it was acquired by the british national & provincial press in 1941 and first listed on the london stock exchange in 1984 . 11 reuters began to grow rapidly in the 1980s widening the range of its business products and expanding its global reporting network for media financial and economic services key product launches included equities 2000 1987 dealing 2000 2 1992 business briefing 1994 reuters television for the financial markets 1994 3000 series 1996 and the reuters 3000 xtra service 1999 . 11 post acquisition edit the thomson corporation acquired reuters group plc to form thomson reuters on april 17 2008 . 12 thomson reuters operated under a dual listed company dlc structure and had two parent companies both of which were publicly listed thomson reuters corporation and thomson reuters plc. in 2009 it unified its dual listed company structure and stopped its listing on the london stock exchange and nasdaq . it is now listed only as thomson reuters corporation on the new york stock exchange and toronto stock exchange symbol tri . 13 14 in june 2008 it was reported that it would be launching a news channel to rival bloomberg tv and cnbc . this turned out to be false . the company released thomson reuters eikon in 2011 . 11 on february 13 2013 thomson reuters announced it would cut 2 500 jobs to cut cost in its legal financial and risk division . 15 on october 29 2013 thomson reuters announced it would cut another 3 000 jobs mostly in its legal financial and risk division . 16 in july 2016 thomson reuters announced it would be selling its intellectual property & science business to private equity funds . 17 operations edit the chief executive of the combined company is james c. smith who was the chief executive for the professional division and the chairman is david thomson who was the chairman of thomson . 18 19 20 in late 2011 the company announced a new organizational structure with five divisions 21 financial and risk legal intellectual property & science tax & accounting global growth organization 21 thomson reuters shares are listed on the toronto stock exchange tsx tri and the new york stock exchange nyse tri . it competes with bloomberg l.p. in aggregating financial and legal news . 22 market position and antitrust review edit thomson reuters building as seen from 8th avenue . the thomson reuters merger transaction was reviewed by the u.s. department of justice and by the european commission . on february 19 2008 both the department of justice and the commission cleared the transaction subject to minor divestments . 23 the department of justice required the parties to sell copies of the data contained in the following products thomson s worldscope a global fundamentals product ; reuters estimates an earnings estimates product ; and reuters aftermarket embargoed research database an analyst research distribution product . the proposed settlement further requires the licensing of related intellectual property access to personnel and transitional support to ensure that the buyer of each set of data can continue to update its database so as to continue to offer users a viable and competitive product . 24 the european commission imposed similar divestments according to the commission s press release the parties committed to divest the databases containing the content sets of such financial information products together with relevant assets personnel and customer base as appropriate to allow purchasers of the databases and assets to quickly establish themselves as a credible competitive force in the marketplace in competition with the merged entity re establishing the pre merger rivalry in the respective fields . 25 these remedies are viewed as very minor given the scope of the transaction . according to the financial times the remedy proposed by the competition authorities will affect no more than 25m of the new thomson reuters group s 13bn plus combined revenues . 26 the transaction was cleared by the canadian competition bureau . 27 in november 2009 the european commission opened formal anti trust proceedings 28 against thomson reuters concerning a potential infringement of the ec treaty s rules on abuse of a dominant market position article 82 . the commission investigated thomson reuters practices in the area of real time market datafeeds and in particular whether customers or competitors were prevented from translating reuters instrument codes rics to alternative identification codes of other datafeed suppliers so called mapping to the detriment of competition . in december 2012 the european commission adopted a decision that renders legally binding the commitments offered by thomson reuters to create a new licence erl allowing customers for a monthly fee to use reuters instrument codes rics in applications for data sourced from thomson reuters real time consolidated datafeed competitors to which they have moved . 29 purchase process edit historically no single individual has been permitted to own more than 15 % of reuters under the first of the reuters principles which states reuters shall at no time pass into the hands of any one interest group or faction . 30 however that restriction was waived for the purchase by thomson whose family holding company the woodbridge company currently owns 53 % of the enlarged business . robert peston business editor at bbc news stated that this has worried reuters journalists both because they are concerned that reuters journalism business will be marginalized by the financial data provision business of the combined company and because of the threat to reuters s reputation for unbiased journalism by the appearance of one majority shareholder . pehr gyllenhammar chairman of the reuters founders share company explained that the reuters trust s first principle had been waived for the thomson family because of the poor financial circumstances that reuters had been in stating the future of reuters takes precedence over the principles . if reuters were not strong enough to continue on its own the principles would have no meaning . he stated not having met david thomson but having discussed the matter with geoff beattie the president of woodbridge that the thomson family had agreed to vote as directed by the reuters founders share company on any matter that the trustees might deem to threaten the five principles of the reuters trust . woodbridge will be allowed an exemption from the first principle as long as it remains controlled by the thomson family . 31 32 33 34 acquisitions edit 2009 in july thomson reuters acquired streamlogics . 35 founded in 1999 streamlogics is a provider of customizable high volume real time data mining solutions 36 for hundreds of enterprises across several verticals including financial services technology and health care life sciences . streamlogics webcasting solutions are used for training and certification marketing and lead generation and corporate communications . 37 in august it bought vhayu technologies . vhayu is a provider of tick data services and thomson reuters had been distributing its velocity product under the reuters tick capture engine label for the four years prior to the acquisition . 38 on september 21 2009 thomson reuters bought hugin group the european ir and pr distribution group from nyse euronext . terms have not been disclosed but it has been reported in danish newspapers that the price was between 40 million and 42m . 39 in september it also bought the abacus software business from deloitte a provider of corporate taxation software for the u.k. ireland the netherlands new zealand and hong kong as well as indirect tax reporting software for 20 e.u. countries . terms of the transaction were not disclosed . 40 in october thomson reuters acquired breaking views 41 in november the tax & accounting business acquired sabrix inc a global provider of transaction tax management software applications and related services . 42 2010 in january thomson reuters acquired discovery logic 43 in february thomson reuters acquired aegisoft llc to improve their electronic trading capabilities by offering direct market access . 44 in may it acquired point carbon a s a norwegian company that provides