Thomson Reuters Acquires World Business Media Limited

TORONTO, Jan. 16, 2024 /CNW/ -- Thomson Reuters Corporation ("Thomson Reuters") (NYSE/TSX: TRI), a global content and technology company, announced today that it has acquired World Business Media Limited, a cross-platform, subscription-based provider of editorial coverage for the (re)insurance industry. This acquisition is in line with Reuters strategic priority to provide must-have news and insight for new customer markets and professional verticals.

Based in London and with an additional editorial hub in New York, World Business Media Limited's editorial team provides must-have content and insight for global professionals working within the global (re)insurance and specialty markets. Its products include The Insurer, the go-to and digital source for news, analysis and data on the (re)insurance industry and The Insurer TV, which brings exclusive insight and intelligence on the market through video interviews, panel discussions and mini docuseries. Through its events business, The Insurer Events, World Business Media Limited provides networking opportunities through a global series of events, conferences and awards ceremonies.

The business will be operated as part of the Reuters News division of Thomson Reuters and report into Reuters Professional.

"Reuters produces trusted, must-have content for professionals across industries and borders," said Paul Bascobert, President of Reuters. "With this transaction, we are thrilled to extend that mission deeper into the insurance and reinsurance markets. By combining World Business Media Limited's specialized expertise in these markets with the global scale and reach of Reuters, we believe we can help uncover greater growth, advantages and actionable insight for insurance professionals across the globe. We plan to invest in this business to increase its coverage and reach, and we believe we will be able to bring services of greater value to our customers in this sector."

"Professionals seek high-consequence information and analysis from industry experts to drive strategy and navigate change. With World Business Media Limited's reach of more than 45,000 insurance professionals, we are truly excited about the opportunities for growth and offering an expanded set of solutions for our customers," said Josh London, Head of Reuters Professional. 

"As the industry undergoes rapid change, increasing regulatory complexity, and growing severity of risks, the need for context and clarity for insurance, reinsurance and adjacent professionals has never been greater," said Peter Hastie, Managing Director of World Business Media Limited. "Reuters is the perfect partner to achieve just that for our customers. We anticipate that we will be able to grow our business much faster together as part of Reuters than on our own. Building from World Business Media Limited's strong platform and expertise, Reuters global, cross-platform and trusted approach to journalism will continue to ensure that our engaged audience remains a step ahead. We are excited to see the benefits this new phase of our company will bring to them."

About Thomson Reuters

Thomson Reuters (NYSE /TSX: TRI) informs the way forward by bringing together the trusted content and technology that people and organizations need to make the right decisions. The company serves professionals across legal, tax, accounting, compliance, government, and media. Its products combine highly specialized software and insights to empower professionals with the data, intelligence, and solutions needed to make informed decisions, and to help institutions in their pursuit of justice, truth, and transparency. Reuters, part of Thomson Reuters, is a world leading provider of trusted journalism and news. For more information, visit tr.com.

About Reuters

Reuters, part of Thomson Reuters, is the leading global provider of business, financial and world news, reaching billions of people worldwide every day. Leveraging industry expertise and cutting-edge technology and tools, Reuters global team of trusted journalists delivers fast, accurate and fact-based news, insight and analysis to financial market professionals exclusively via LSEG products, to the world's media organizations and to professionals via industry events and Reuters.com. Founded in 1851, Reuters is committed to the Trust Principles of independence, integrity and freedom from bias. For more information, visit Reuters.com.

SPECIAL NOTE REGARDING FORWARD-LOOKING STATEMENTS, MATERIAL RISKS AND MATERIAL ASSUMPTIONS

Certain statements in this news release are forward-looking, including but not limited to the expected closing date for the proposed transaction, and the strategic benefits of the proposed transaction. The words "anticipate", "believe" and similar expressions identify forward-looking statements. While the company believes that it has a reasonable basis for making forward-looking statements in this news release, they are not a guarantee of future performance or outcomes and there is no assurance that any of the other events described in any forward-looking statement will materialize. Forward-looking statements are subject to a number of risks, uncertainties and assumptions that could cause actual results or events to differ materially from current expectations. Many of these risks, uncertainties and assumptions are beyond our company's control and the effects of them can be difficult to predict. You are cautioned not to place undue reliance on forward-looking statements which reflect expectations only as of the date of this news release. Except as may be required by applicable law, Thomson Reuters disclaims any obligation to update or revise any forward-looking statements.

SOURCE Thomson Reuters