page_title: Thomson Reuters
section_title: Market position and Thomson Reuters merger antitrust review
hierarchical_section_title: Thomson Reuters / History / Market position and Thomson Reuters merger antitrust review
caption_attribution_description: English: The Thomson Reuters building (also known as 3 Times Square) as seen from 8th Avenue in midtown Manhattan, New York City.
context_page_description: Thomson Reuters Corporation is a Canadian multinational media conglomerate. The company was founded in Toronto, Ontario, Canada, where it is headquartered at 333 Bay Street.
  Thomson Reuters was created by the Thomson Corporation's purchase of the British company Reuters Group in April 2008, and is majority owned by The Woodbridge Company, a holding company for the Thomson family.
context_section_description: 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.  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.  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."
  These remedies were 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."
  The transaction was cleared by the Canadian Competition Bureau.
  In November 2009, The European Commission opened formal antitrust proceedings 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.
caption: Thomson Reuters Building as seen from Eighth Avenue in Midtown Manhattan
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