Thomson Reuters Corp. has offered to buy Breakingviews.com, a news website founded by Financial Times journalists that will enhance the news and data company's stable of columnists and commentators.
The price hasn't been disclosed, but the Breakinviews board has recommended its shareholders accept the offer. The site distributes many of its articles to newspapers such as the New York Times, and Thomson Reuters said it would seek syndication deals with other papers as well.
Here's what the Reuters story had to say:
"The decision to buy Breakingviews pushes Reuters News further into the world of commenting on business and financial news. That arena includes players such as Lex, the commentary service run by Pearson Plc's Financial Times newspaper, and Heard on the Street, part of News Corp's Wall Street Journal. Breakingviews chief Hugo Dixon will run the commentary service, which will operate separately from Reuters' news reports. Thomson Reuters said it is talking to Jonathan Ford, who was hired last year to start the Reuters commentary service, about taking on other roles at Thomson Reuters."
Tuesday, rival Bloomberg LP also stepped into publishing. It purchased Business Week to help it offer more analytical content to its data offerings and rapid news reporting services.