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Date: | Tue, 15 Feb 2000 09:52:53 -0600 |
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Journalism majors:
Thomson owns the Hamilton, Middletown and Oxford papers.
linda
Thomson newspapers put up for sale except Globe and Mail|
Eds: Version also moving on international and business lines|
TORONTO (AP) - The Thomson Corp. plans to sell all 130 of its daily and
weekly newspapers except for its flagship Globe and Mail so it can
concentrate on its Internet businesses.
There are nine Thomson daily papers in Ohio.
The company expects the sale of its 55 daily and 75 nondaily newspapers to
be completed during the second half of the year.
''We have decided to sell these newspapers in order to more sharply focus on
technology-driven information and solutions for businesses and professionals
which have global potential,'' Richard Harrington, president of Thomson
Corp., said in a statement.
Over the past decade, the company has concentrated on communication and
marketing services.
Thomson's legal and regulatory group, led by the West Group, is a leading
provider of data and software to lawyers, accountants and other
professionals. Its Thomson Financial operation serves the financial
community.
Thomson's scientific, reference and healthcare group provides information
and services to researchers.
Excluding the Globe and Mail, Thomson Newspapers had estimated revenue of
$810 million in 1999 - a large part of which was generated through
electronic services. The Globe, Canada's only national newspaper until the
National Post was launched, will not be sold.
Within the next five years, the company hopes to generate from electronic
products and services more than 80 percent of total revenues.
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