30 Jan 2018 Thomsons Go Back to News Roots With Sale of Unit to Blackstone
Agree to sale of a 55% stake in financial, risk businesses, Canada’s wealthiest family got start in news business in 1931
David Thomson, the third-generation scion of Canada’s richest family, is retreating to his news roots with the sale of his company’s financial data business to Blackstone Group LP.
Thomson, whose grandfather Roy launched the media empire with a tiny radio station in 1931, agreed on Tuesday to sell a 55 percent stake in the division to Blackstone Group LP, valuing the business at $20 billion. Following a difficult decade that’s traced the ups and down of global finance, as well as upheaval in traditional media, Thomson is tearing apart the merger of Thomson Corp. and Reuters Group Plc that he orchestrated only a decade ago.