Frankfurt/Main (ots) - dpa and APA announced today that they
acquired Thomson Reuter's shareholding in the real time financial
news agency dpa-AFX.
Under the agreement Thomson Reuters sold its 34% shareholding in
the joint venture to the remaining partners, the German news agency
dpa and the Austrian agency APA who increase their holdings to 76%
and 24% respectively.
Terms of the sale were not disclosed however the parties expressed
their long term commitment to the business and continuation of
existing supply relationships.
The change in structure follows the integration into Reuters of
the German editorial staff who previously produced the English
language financial news for Thomson Financial and were based in
dpa-AFX's Frankfurt headquarters.
"After the Thomson acquisition of Reuters we produced
English-language financial news from Frankfurt in two editorial
offices, Reuters and dpa-AFX", said Andrew Meagher, Head of Real Time
Financial Publishing at Thomson Reuters.
"The English news production by dpa-AFX was the main reason to be
a shareholder of the joint venture and now that the former AFX (TFN)
staff has been transferred to Reuters we satisfied the wish of dpa
and APA to sell our share to both German language agencies,
particularly since both Reuters and dpa-AFX also offer
German-language services", added Meagher.
"dpa-AFX will continue on its successful course as a platform and
vendor-independent business", said dpa CEO Malte von Trotha. "So, I
am happy that we increased dpa's share. We will continue to provide
investors with accurate and rapid information concerning market
news", von Trotha added.
Peter Kropsch, Managing Director of APA, said: "dpa-AFX is a very
important partner for the news provision for our clients in the
domestic financial market. With increasing its stake APA takes a
further step to strengthen its long-term cooperation with dpa-AFX.
This is a decision of major strategic relevance."
dpa-AFX was founded in 1999 by its two major shareholders, dpa and
AFX News Ltd. (London), to produce real-time German and
English-language financial news in Frankfurt. The AFP financial news
subsidiary AFX was taken over in 2006 by the Canadian financial group
Thomson. In the spring of 2008, Thomson acquired financial news and
information provider Reuters.
dpa-AFX Wirtschaftsnachrichten GmbH is one of the leading news
agencies for German language real time financial news. dpa-AFX
provides independent, reliable and fast news for institutional and
private investors. dpa-AFX is a business-to-business news supplier to
financial institutions and media companies which then distribute
dpa-AFX News over their intranets, web pages or terminals. dpa-AFX
news are used by exchange traders, brokers, fund managers and
financial advisors, as well as on company intranets by a wide variety
of users. dpa-AFX news are available via numerous platforms such as
Bloomberg, IDMS, vwd group or Teletrader. For more information, go to
dpa Deutsche Presse-Agentur is a trusted, accurate and independent
provider of news with the digital and multimedia content to power the
media at home and abroad. Our customers benefit from the extensive
global network of correspondents and editors maintained by Germany's
leading news wire. News gathering is completely free of outside
influence which in turn guarantees that coverage lives up to the
strict requirements of the dpa charter: This document lays down that
reporting must be free of bias and unfettered by political, economic
or governmental ideologies. Print media, radio stations, online and
mobile communication providers in more than 100 countries rely on
this journalistic excellence around-the-clock. For more information,
go to www.dpa.com.
APA - Austria Press Agency is the country's national news agency
and the leading information service provider for Austria. Austrian
newspapers and the ORF TV and Radio network own the agency. The
APA-Group includes the APA news agency, as well as ten subsidiaries.
Its work focuses on the areas of a news agency, photo agency,
information management, and information technology. The APA editorial
departments supply real-time news service in word, image, graphics,
audio and video. APA Finance, the Austria Press Agency's unit for
high-value information on finance, has been providing
well-substantiated news about the capital market and market-relevant
economic issues for years. The subsidiaries offer dissemination,
research, and knowledge management services, as well as information
technology solutions. The APA-Group targets its work towards
professional users (information managers, PR experts) in the fields
of media, politics, public authorities, and economics. APA fulfils
its duties independent from the state, governmental, and political
party influences and in accordance with the principles of
reliability, speed, balanced information and avoidance of any
one-sidedness and party influence. For more information, go to
Thomson Reuters is the world's leading source of intelligent
information for businesses and professionals. We combine industry
expertise with innovative technology to deliver critical information
to leading decision makers in the financial, legal, tax and
accounting, scientific, healthcare and media markets, powered by the
world's most trusted news organization. With headquarters in New York
and major operations in London and Eagan, Minnesota, Thomson Reuters
employs more than 50,000 people in 93 countries. Thomson Reuters
shares are listed on the New York Stock Exchange (NYSE: TRI); Toronto
Stock Exchange (TSX: TRI); London Stock Exchange (LSE: TRIL); and
Nasdaq (NASDAQ: TRIN). For more information, go to
ots Originaltext: dpa-AFX Wirtschaftsnachrichten GmbH
Im Internet recherchierbar: http://www.presseportal.ch
dpa Deutsche Presse-Agentur GmbH
Global Head of Real-Time Financial Publishing Reuters News
APA - Austria Presse Agentur
Head of Marketing & Communications
dpa-AFX Wirtschaftsnachrichten GmbH