Reuters News gets new President
Paul Bascobert, former CEO of US publisher Gannet, has been appointed President of Reuters News – the news agency business in information company Thomson Reuters. He is succeeding Michael Friedenberg who has left the company.
“Paul combines a strong understanding of financial markets with belief in independent journalism and extensive experience as an operating executive, adviser and entrepreneur with an impressive track record of transformation and growth in media and SaaS (software as a service) businesses,” Thomson Reuters CEO Steve Hasker said in a message to staff, Reuters reports.
Around half Reuters News’ revenue comes from supplying news to Refinitiv, a data company that earlier was a part of Thomson Reuters but is now owned by the London Stock Exchange Group. When Reuter News a couple of years ago announced that it would put up a pay-wall around its news, Refinitiv protested saying the company already pays a lot and that it wants the news to be open for Refinitiv’s customers. The plans for a pay-wall was put on hold and that is still the case.
“We will develop new ways to serve our customers – LSEG Refinitiv, our news agency clients and professionals – while continuing to grow the reach and impact for our fantastic journalism,” Bascobert said in a statement.
Bascobert, 58, has held senior positions at Bloomberg LP, Dow Jones and most recently he was the CEO of Blue Ocean Acquisition Corp, a Special Purpose Acquisition Company (SPAC).
Bascobert will be based in New York.
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