Reuters in 2004: Fast Forward and Beyond
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Case Details:
Case Code : BSTA051
Case Length : 14 Pages
Period : 1851 - 2004
Organization : Reuters
Pub Date : 2004
Teaching Note :Not Available
Countries : Global
Industry : Financial Information Services
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Please note:
This case study was compiled from published sources, and is intended to be used as a basis for class discussion. It is not intended to illustrate either effective or ineffective handling of a management situation. Nor is it a primary information source.
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Background Note
In October 1851, Paul Julius Reuter, a German immigrant, opened an office in London to transmit stock market quotations between London and Paris via the new Calais-Dover cable. Two years earlier, he had used pigeons to transmit stock prices between Aachen and Brussels, a service that operated for a year until the telegraph link had been repaired. Reuters, as the agency soon became known as, eventually began offering its service, to not only the press in Britain but also in other European countries. Reuters gradually expanded the scope of its coverage to general and economic news from all around the world...
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Business Segments
Reuters provided customized information to professionals in the financial services, media and corporate markets. In 2002, the company had 16,000 staff in 94 countries, including about 2,400 editorial staff in 197 bureaus serving approximately 130 countries...
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Leveraging The Web
Reuters announced various steps designed to accelerate its use of Internet technologies, open new markets and move to an internet-based model in 1999. Reuters believed that the Internet had opened up two big opportunities...
The Slide
For a long time, Reuters' grip on news and financial information had been ironclad. But by the end of 2002, its market capitalization plunged by almost 90% from its peak of about $ 43.18 billion. In July 2002, Reuters posted its first loss since becoming a public company in 1984... |
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