January 30, 2018 / 4:30 PM / 7 months ago

Reuters News to get $325 million annually under Blackstone offer: sources

LONDON (Reuters) - Blackstone Group LP (BX.N) has agreed that annual payments of $325 million would be made for 30 years to the Reuters News business as part of an offer by the U.S. private equity firm to buy a majority stake in Thomson Reuters’ (TRI.N) (TRI.TO) Financial and Risk unit, two sources familiar with the matter said on Tuesday.

FILE PHOTO: The Thomson Reuters logo is seen on the company building in Times Square, New York October 29, 2013. REUTERS/Carlo Allegri/File Photo

The payments - which would amount to almost $10 billion over three decades - would be made by the new Financial and Risk company for Reuters news content, the sources said. Blackstone would own 55 percent in the new company and Thomson Reuters would retain a stake of 45 percent.   

Thomson Reuters, the parent of Reuters News, said late on Monday it was “in advanced discussions with Blackstone regarding a potential partnership in its F&R business”. Reuters News supplies news to the Financial and Risk unit’s desktop product, Eikon.

(This version of the story has been refiled to clarify terms of offer)

Reporting by Pamela Barbaglia; Editing by Pravin Char

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