The Thomson Corporation Essay
The Thomson Corporation
The Thomson Corporation and its subsidiaries, with headquarters in Stamford, Connecticut, and operations in 37 countries, provide information services to business and professional customers worldwide. The family-owned organization operates through five segments: Thomson Legal, Thomson Tax and Accounting, Thomson Financial, Thomson Scientific, and Thomson Healthcare.
The company began its roots with Roy Thomson who in 1934 acquired a newspaper in Canada, The Timmins Press. The company started out as a publication company but eventually branched out to become an information and knowledge based conglomerate. “Thomson’s formula was so simple others soon mimicked it: Carve a lot out of a little. He scooped up small-town dailies and dished out the least costly product he could sell.” (Prochnau)
Thomson’s vision is to “be the leading global provider of integrated information-based solutions to business and professional customers.” The company plans to achieve this by “delivering superior shareholder value by empowering people to provide indispensable information, insight, productivity tools and services that help the company’s customers succeed.”
Commitment to the people is the Thomson Corporation’s core value that directs and sustains the company’s operational strategies and objectives. “In 2006 the Thomson Corporation successfully executed on its strategic and operational priorities, and delivered strong financial results. Thomson has never been in a stronger position – strategically, operationally and financially” with $6.6 billion in revenues from continuing operations, up 8% from the results of the previous year. Moreover, the company gave back nearly $1 billion to shareholders through dividends and the stock buyback program.
In May of this year, the organization gained more ground in an unprecedented takeover of news and data giant, Reuters for 8.7 billion pounds ($17.2 billion). Thus, making the combined Thomson-Reuters’ market value to exponentially increase to $35 billion. “Thomson Financial and Reuters financial and media businesses will be merged and renamed Reuters, and will be run by American Devin Wenig, who is currently Reuters’ chief operating officer.” After this acquisition, the Thomson family will still own 53% of the combined businesses. The Corporation’s common shares are listed on the New York and Toronto stock exchanges (NYSE: TOC; TSX: TOC).
Prochnau, William. “In Lord Thomson’s Realm.” American Journalism Review October
Rogers, Gareth. “Lord Who Ran Newspaper Empire in City.” South Wales Echo 20 June
The Thomson Corporation Annual Report 2006.
“Thomson Clinches [Pounds Sterling]8.7bn Reuters Buy.” Evening Standard [London] 15
May 2007: NA.
Thomson Corporation. 2007. 23 October 2007 <http://www.thomson.com/about/>
Thomson Corporation (TOC). Yahoo Finance. 23 October 2007
University/College: University of California
Type of paper: Thesis/Dissertation Chapter
Date: 20 March 2017