The Thomson Corporation was one of the world's largest information companies. It was established in 1989 following a merger between International Thomson Organisation Ltd (ITOL) and Thomson Newspapers. In 2008, it purchased Reuters Group to form

Thomson Reuters Thomson Reuters Corporation ( ) is a Canadian multinational media conglomerate. The company was founded in Toronto, Ontario, Canada, where it is headquartered at the Bay Adelaide Centre. Thomson Reuters was created by the Thomson Corp ...

. The Thomson Corporation was active in financial services, healthcare sectors, law, science and technology research and tax and accounting sectors. The company operated through five segments (2007 onwards):

Thomson Financial Thomson Financial was an arm of the Thomson Corporation, an information provider. When the Thomson Corporation merged with Reuters to form Thomson Reuters in April 2008, Thomson Financial was merged with the business of Reuters to form the Market ...

, Thomson Healthcare, Thomson Legal, Thomson Scientific and Thomson Tax & Accounting. Until 2007, Thomson was also a major worldwide provider of higher education textbooks, academic information solutions and reference materials. On 26 October 2006, Thomson announced the proposed sale of its Thomson Learning assets. In May 2007, Thomson Learning was acquired by

Apax Partners Apax Partners LLP is a British private equity firm, headquartered in London, England. The company also operates out of six other offices in New York, Hong Kong, Mumbai, Tel Aviv, Munich and Shanghai. As of December 2017, the firm, including its ...

and subsequently renamed

Cengage Learning Cengage Group is an American educational content, technology, and services company for the higher education, K-12, professional, and library markets. It operates in more than 20 countries around the world.(Jun 27, 2014Global Publishing Leader ...

in July. The Thomson Learning brand was used to the end of August 2007. Subsequently, on 15 October 2007, Educational Testing Service (ETS) finalized acquisition of Thomson's Prometric. Thomson sold its global network of testing centres in 135 countries, for a reported $435 million. Prometric now operates as a wholly owned subsidiary of ETS. On 15 May 2007, the Thomson Corporation reached an agreement with Reuters to combine the two companies, a deal valued at $17.2 billion. On 17 April 2008, the new company was created under the name of Thomson Reuters. The chief executive officer of Thomson Reuters is Jim Smith, and the

chairman The chairperson, also chairman, chairwoman or chair, is the presiding officer of an organized group such as a board, committee, or deliberative assembly. The person holding the office, who is typically elected or appointed by members of the group ...

is David Thomson, formerly of the Thomson Corporation. Although it was officially a Canadian company and remained Canadian owned, Thomson was run from its operational headquarters in

Stamford, Connecticut Stamford () is a city in the U.S. state of Connecticut, outside of Manhattan. It is Connecticut's second-most populous city, behind Bridgeport. With a population of 135,470, Stamford passed Hartford and New Haven in population as of the 202 ...

, in the United States.

History

The Thomson Corporation grew from a single Canadian newspaper, the '' Timmins Daily Press'', acquired in 1934 by Roy Thomson (later to become 1st Baron Thomson of Fleet), into a global media concern. Thomson acquired his first non-Canadian newspaper, the ''

Independent Independent or Independents may refer to: Arts, entertainment, and media Artist groups * Independents (artist group), a group of modernist painters based in the New Hope, Pennsylvania, area of the United States during the early 1930s * Independe ...

'' of St. Petersburg, Florida, in 1952. He was told by the UK Government that to qualify for a peerage, in keeping with other press barons in London, he would have to reside in the UK. Accordingly, he moved to Edinburgh and invited newspaper owners to sell to him. In this expansion in the United Kingdom the first to come forward and be bought was ''

The Scotsman ''The Scotsman'' is a Scottish compact newspaper and daily news website headquartered in Edinburgh. First established as a radical political paper in 1817, it began daily publication in 1855 and remained a broadsheet until August 2004. Its pare ...

'' in 1953. He had no experience of television but saw the profits it made in the US and successfully founded

Scottish Television Scottish Television (now, legally, known as STV Central Limited) is the ITV network franchisee for Central Scotland. The channel — the largest of the three ITV franchises in Scotland — has been in operation since 31 August 1957 and is th ...

in 1957, locating its headquarters and studios in the Theatre Royal, Glasgow. He founded the Thomson Organization in 1959. In the 1960s, Thomson's UK publishing realm expanded to include Thomson Publication (UK), a consumer magazine and book publishing house, and ''

The Times ''The Times'' is a British daily national newspaper based in London. It began in 1785 under the title ''The Daily Universal Register'', adopting its current name on 1 January 1788. ''The Times'' and its sister paper '' The Sunday Times'' ( ...

''. In 1965, Thomson Newspapers, Ltd. was formed as a publicly traded company in Canada. Roy Thomson's prolific endeavors in publishing earned him the hereditary title Lord Thomson of Fleet in 1964. Thomson's interests moved beyond publishing with the creation of Thomson Travel and acquisition of

Britannia Airways Britannia Airways was a charter airline based in the UK. It was founded in 1961 as Euravia and became the world's largest holiday airline. Britannia's main bases were at London Gatwick, London Stansted, London Luton, Cardiff, Bristol, East M ...

in 1965 and 1971, and a foray into a consortium exploring the

North Sea The North Sea lies between Great Britain, Norway, Denmark, Germany, the Netherlands and Belgium. An epeiric sea on the European continental shelf, it connects to the Atlantic Ocean through the English Channel in the south and the Norwegian ...

for oil and gas. Thomson used its oil profits to buy small newspapers in the United States, starting with the acquisition of

Brush-Moore Newspapers Brush-Moore Newspapers, Inc. was a United States newspaper group based in Ohio which had its origins in 1923 and was sold to Thomson Newspapers in 1967 for $72 million, the largest ever newspaper transaction at that time.Newspapers: Strength in the Afternoon
''

Time (magazine) ''Time'' (stylized in all caps) is an American news magazine based in New York City. For nearly a century, it was published Weekly newspaper, weekly, but starting in March 2020 it transitioned to every other week. It was first published in New ...

'', September 8, 1967 By the end of the 1970s, Thomson Newspapers' circulation in the United States had surpassed the 1 million mark. The Thomson Organization was reorganised into the International Thomson Organization in 1978 in order to move its operating base from Britain to Canada, so that it would not be subject to British monopolies legislation, foreign‐exchange controls and dividend limitation. The International Thomson Organization and Thomson Newspapers merged in 1989, creating the Thomson Corporation. Over the years, the company has withdrawn from its holdings in the oil and gas business, the travel industry and department stores.Austen, Ian (July 3, 2006).
In Canada, the Torch is Passed on a Quiet but Profitable Legacy
. The New York Times (Business Day section) p. C1; accessed on July 3, 2006. When Kenneth Thomson took over from his father Roy in 1976, the company was worth about $500 million. At Kenneth's death in June 2006, the company was valued at about $29.3 billion.

Transition to business information

In 1978, the acquisition of Wadsworth Publishing provided Thomson with its first entry into specialised information, college textbooks and professional books. (In 2007, Thomson Learning, including the Wadsworth imprint, was sold and renamed as

.) Starting in the mid-1990s, Thomson invested further in specialised information services (but this time providing them in digital format) and began selling off its newspapers. That was about the time Richard J. Harrington, an accountant, became chief executive officer of the company. One of the first moves came when Thomson spent $3.4 billion to acquire the

West Publishing Company West (also known by its original name, West Publishing) is a business owned by Thomson Reuters that publishes legal, business, and regulatory information in print, and on electronic services such as Westlaw. Since the late 19th century, West ...

, a legal information provider in

Eagan, Minnesota Eagan ( ) is a city in Dakota County, Minnesota, Dakota County, Minnesota. It is south of Saint Paul, Minnesota, Saint Paul and lies on the south bank of the Minnesota River, upstream from the confluence with the Mississippi River. Eagan and the ...

. In recent years, Thomson provided much of the specialised information content the world's financial, legal, research and medical organizations rely on every day to make business-critical decisions and drive innovation. While it remained a publishing company, early and aggressive investment in electronic delivery had become a key company goal. "Except for its educational division, which still publishes a substantial number of conventional textbooks, Thomson had the good fortune to move into these businesses as customers were demanding electronic delivery of their information," according to a 3 July 2006 article. "In some markets, Thomson was able to move past other players who were more cautious about digital conversion." In 2003, the Thomson Corporation bought the Chilton automotive assets. Also in 2003, Thomson acquired the software company Elite Information Group. Also in 2003, Thomson sold its medical magazine publishing units to Advanstar Communications. In late 2004, the company sold its Thomson Media group to Investcorp. The B2B publishing group, which features such titles as ''

American Banker ''American Banker'' is a Manhattan-based trade publication covering the financial services industry. Originally a daily newspaper, the print edition ceased publication in 2016, with an online edition continuing to be updated. The first issue of ...

National Mortgage News ''National Mortgage News'' is a digital media website covering the mortgage sector in the United States. Its editor is Austin Kilgore, and its publisher is Dennis Strong. ''National Mortgage News'' is owned by SourceMedia. History ''National Mo ...

'', and ''

The Bond Buyer ''The Bond Buyer'' is a century-old daily national trade newspaper based in New York City and focused on covering the municipal bond industry. It is published Monday through Friday, except holidays. The newspaper is printed on tabloid-sized pape ...

'', is now known as

SourceMedia Arizent, formerly known as SourceMedia, is a mid-sized diversified business-to-business digital media company owned by Observer Capital, which acquired the company from Investcorp in August 2014. Formerly the Thomson Media division of The Thomso ...

. In October 2006, the company confirmed it would sell the Thomson Learning market group in three parts. The first part, corporate education and training (NETg), has agreed to be sold to

Skillsoft Skillsoft is an American educational technology company that produces learning management system software and content. History Skillsoft was founded by Charles Moran in 1998. Moran served as Chief Executive Officer and President from 1998 to 20 ...

for $285 million.

Apax Apax Partners LLP is a British private equity firm, headquartered in London, England. The company also operates out of six other offices in New York, Hong Kong, Mumbai, Tel Aviv, Munich and Shanghai. As of December 2017, the firm, including its ...

announced its acquisition of Thomson's higher education business on 11 May 2007, for $7.5 billion in cash assets.

Brands

Some of Thomson's brands are better known than the company name itself. Its brands include Thomson ONE,

Westlaw Westlaw is an online legal research service and proprietary database for lawyers and legal professionals available in over 60 countries. Information resources on Westlaw include more than 40,000 databases of case law, state and federal statu ...

, FindLaw, BARBRI,

Pangea3 Pangea3 is a legal outsourcing services provider with headquarters in New York City, Noida, Bangalore and Mumbai, India. Pangea3 provides legal services and intellectual property services to in-house counsel in U.S., European and Japanese corpo ...

, Physician's Desk Reference (now published digitally as the ''Prescriber's Digital Reference''),

RIA A ria (; gl, ría) is a coastal inlet formed by the partial submergence of an unglaciated river valley. It is a drowned river valley that remains open to the sea. Definitions Typically rias have a dendritic, treelike outline although they ca ...

, Tax and Accounting (

tax A tax is a compulsory financial charge or some other type of levy imposed on a taxpayer (an individual or legal entity) by a governmental organization in order to fund government spending and various public expenditures (regional, local, or n ...

and accounting software and services for accountants), Creative Solutions, Quickfinder, DISEASEDEX (now merged with

IBM Watson Health Merative, formerly IBM Watson Health, is a standalone company as of 2022. Merative offers products and services that help clients facilitate medical research, clinical research, Real world evidence, and healthcare services, through the use of a ...

), DrugREAX, Medstat, Thomson First Call (now a subsidiary of the

London Stock Exchange Group London Stock Exchange Group plc (LSEG) is a United Kingdom-based stock exchange and financial information company headquartered in the City of London, England. It owns the London Stock Exchange (on which it is also listed), Refinitiv, LSEG T ...

, known as

Refinitiv Refinitiv is an American-British global provider of financial market data and infrastructure. The company was founded in 2018. It is a subsidiary of London Stock Exchange Group after a US$27 billion sale from previous owners Blackstone Group LP ...

), Checkpoint,

EndNote A note is a string of text placed at the bottom of a page (paper), page in a book or document or at the end of a chapter, volume, or the whole text. The note can provide an author's comments on the main text or citations of a reference work in ...

(now produced by Clarative, an independent company),

Derwent World Patents Index The Derwent World Patents Index (DWPI) is a database containing patent applications and grants from 44 of the world's patent issuing authorities. Compiled in English by editorial staff, the database provides a short abstract detailing the nature ...

(now produced by Clarivate), SAEGIS (now produced by Clarivate), MicroPatent, Aureka (now owned by Clarivate), Faxpat, OptiPat,

Just Files Just or JUST may refer to: __NOTOC__ People * Just (surname) * Just (given name) Arts and entertainment * ''Just'', a 1998 album by Dave Lindholm * "Just" (song), a song by Radiohead * "Just", a song from the album ''Lost and Found'' by Mudvayne ...

, Faxpat, OptiPat,

Corporate Intelligence A corporation is an organization—usually a group of people or a company—authorized by the state to act as a single entity (a legal entity recognized by private and public law "born out of statute"; a legal person in legal context) and r ...

, InfoTrac (now owned by Cengage),

Delphion Clarivate Plc is a British-American publicly traded analytics company that operates a collection of subscription-based services, in the areas of bibliometrics and scientometrics; business / market intelligence, and competitive profiling for ...

, Arco Test Prep (now owned by Cengage), Peterson's Directories (now owned by Cengage), NewsEdge,

TradeWeb Tradeweb Markets Inc. (Tradeweb) is an international financial services company that builds and operates electronic over-the-counter (OTC) marketplaces for trading fixed income products, ETFs, and derivatives. The company was co-founded in 19 ...

(now owned by

The Blackstone Group Blackstone Inc. is an American alternative investment management company based in New York City. Blackstone's private equity business has been one of the largest investors in leveraged buyouts in the last three decades, while its real estate b ...

), Web of Science (now produced by Clarivate) and the

Arden Shakespeare The Arden Shakespeare is a long-running series of scholarly editions of the works of William Shakespeare. It presents fully edited modern-spelling editions of the plays and poems, with lengthy introductions and full commentaries. There have been t ...

(now published by Bloomsbury Publishing). Thomson formerly owned

Jane's Information Group Jane's Information Group, now styled Janes, is a global open-source intelligence company specialising in military, national security, aerospace and transport topics, whose name derives from British author Fred T. Jane. History Jane's Informat ...

, now owned by

Montagu Private Equity Montagu is a mid-market private equity firm with a specialism in carve-out transactions and other first-time buyout investments. Montagu partners with companies with multi-million dollar enterprise values. Headquartered in London, Montagu also ha ...

. These information sources are produced by the many companies of Thomson, including

West Publishing West (also known by its original name, West Publishing) is a business owned by Thomson Reuters that publishes legal, business, and regulatory information in print, and on electronic services such as Westlaw. Since the late 19th century, West h ...

, ISI (now owned by Clarivate),

Thomson Gale Gale is a global provider of research and digital learning resources. The company is based in Farmington Hills, Michigan, west of Detroit. It has been a division of Cengage since 2007. The company, formerly known as Gale Research and the Gale G ...

(now owned by Cengage), Dialog Corporation (now owned by Clarivate), Brookers, Carswell, CCBN, Course Technology (now owned by Cengage), Gardiner-Caldwell, IHI, Lawbook Co, Wadsworth (now owned by Cengage), Thomson CompuMark (now owned by Clarivate) and Sweet & Maxwell.

Thomson Reuters New Zealand Limited The Thomson Corporation was one of the world's largest information companies. It was established in 1989 following a merger between International Thomson Organisation Ltd (ITOL) and Thomson Newspapers. In 2008, it purchased Reuters Group to form ...

has been publishing and updating information on

New Zealand law The law of New Zealand uses the English common law system, inherited from being a part of the British Empire. There are several sources of law, the primary ones being statutes enacted by the New Zealand Parliament and case law made by decisions ...

since 1910, formerly as John Friend Ltd, to Brooker and Friend Ltd, to Brookers, to Thomson Brookers'. Thomson had divested many of its traditional media assets – or combined them with digital products – and had moved toward a larger reliance on information technology services and products.

Restatements

On 1 January 2004, Thomson adopted a new accounting standard, which required restatement of all prior periods. The company restated its financial reports accordingly.

Corporate governance

Members of the last

board of directors A board of directors (commonly referred simply as the board) is an executive committee that jointly supervises the activities of an organization, which can be either a for-profit or a nonprofit organization such as a business, nonprofit organiz ...

of Thomson were as follows: David K.R. Thomson (chairman of the board since 2002), W. Geoffrey Beattie, Richard Harrington, Ron D. Barbaro,

Mary Cirillo Mary may refer to: People * Mary (name), a feminine given name (includes a list of people with the name) Religious contexts * New Testament people named Mary, overview article linking to many of those below * Mary, mother of Jesus, also calle ...

Robert Daleo The name Robert is an ancient Germanic given name, from Proto-Germanic "fame" and "bright" (''Hrōþiberhtaz''). Compare Old Dutch ''Robrecht'' and Old High German ''Hrodebert'' (a compound of '' Hruod'' ( non, Hróðr) "fame, glory, honou ...

, Steven Denning,

Maureen Darkes Maureen is a female given name. In Gaelic, it is Máirín, a pet form of ''Máire'' (the Irish cognate of Mary), which is derived from the Hebrew Miriam. The name has sometimes been regarded as corresponding to the male given name Maurice. Some ...

, Roger Martin,

Vance Opperman Vance may refer to: Locations United States *Vance, Alabama, a town *Vance Township, Vermilion County, Illinois *Vance, Mississippi, an unincorporated community * Vance, Nebraska, an unincorporated community *Vance County, North Carolina * Vance, ...

, John M. Thompson, Peter Thomson, Richard Thomson and John A. Tory. The Thomson family owned 70% of the company. When Kenneth Thomson died in June 2006, control of the family fortune passed on to David K.R. Thomson under a plan put together decades earlier by company founder Roy Thomson. "David, my grandson, will have to take his part in the running of the organisation and David's son, too,"

Roy Roy is a masculine given name and a family surname with varied origin. In Anglo-Norman England, the name derived from the Norman ''roy'', meaning "king", while its Old French cognate, ''rey'' or ''roy'' (modern ''roi''), likewise gave rise to ...

wrote in his 1975 autobiography. "With the fortune that we will leave to them go also responsibilities. These Thomson boys that come after Ken are not going to be able, even if they want to, to shrug off these responsibilities." The Thomson family controlled the Thomson Corporation through a family-owned entity,

the Woodbridge Company The Woodbridge Company Limited is a Canadian private holding company based in Toronto, Ontario. It is the primary investment vehicle for members of the family of the late Roy Thomson, the first Baron Thomson of Fleet. David Binet has been the ...

, based in

Toronto Toronto ( ; or ) is the capital city of the Canadian province of Ontario. With a recorded population of 2,794,356 in 2021, it is the most populous city in Canada and the fourth most populous city in North America. The city is the ancho ...

. (Along with 70% of Thomson Corporation, Woodbridge also owns a 40% stake in

CTVglobemedia Bell Media Inc. (French: ) is a Canadian company formed by the amalgamation of several companies. Establishment (2011–13) On December 9, 2011, the Ontario Teachers' Pension Plan announced the sale of its majority stake in Maple Leaf Sports ...

, which now owns the ''

Globe and Mail ''The Globe and Mail'' is a Canadian newspaper printed in five cities in western and central Canada. With a weekly readership of approximately 2 million in 2015, it is Canada's most widely read newspaper on weekdays and Saturdays, although it f ...

'' daily newspaper in Toronto and CTV, Canada's largest commercial TV network.) David K.R. Thomson and his brother,

Peter Thomson Peter Thomson may refer to: * Peter Thomson (golfer) (1929–2018), Australian golfer * Peter Thomson (diplomat) (born 1948), Fiji's Permanent Representative to the United Nations * Peter Thomson (footballer) (born 1977), English footballer * Peter ...

, became co-chairmen of Woodbridge after their father's death.

References

External links

* {{DEFAULTSORT:Thomson Corporation, The Thomson Reuters Book publishing companies of Canada Companies based in Toronto Companies based in Stamford, Connecticut Canadian companies established in 1989 Canadian companies disestablished in 2008 Publishing companies established in 1989 Publishing companies disestablished in 2008 2008 mergers and acquisitions