Reuters in 2003


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Case Details:

Case Code : BSTA088
Case Length : 10 Pages
Period : 2000 - 2003
Organization : Reuters
Pub Date : 2003
Teaching Note :Not Available
Countries : Global
Industry : Financial Data 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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Excerpts

Reuters in Crisis

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 € 34.4 billion. In July 2002, Reuters posted its first loss since becoming a public company about 18 years back.

Reuters not only made a loss for the first time ever but it almost lost its place in the FTSE-100 index. It lost a billion-dollar contract with Merrill Lynch to Thomson Financial.

The precipitous fall of this famous information provider had no simple explanation with analysts citing many reasons...

Glocer's Challenge

The first American and the first non-journalist to head Reuters, Glocer inherited from his predecessor, Sir Peter Job, in December 2000, what many believed to be a bloated, complacent organization where decisions were very slow and had to go through many chains of command. In the first nine months of 2002, the company's revenues fell by 7% to $1.4 billion...

Future Outlook

By the end of 2002, it was widely feared that Reuters would issue a dismal forecast for 2003. Reuters underperformed a buoyant FTSE 100 continuously in early 2003. Although Reuters had not issued any guidance for 2003, analysts expected sales to fall by 10%...

Exhibits

Exhibit I: Reuters: Volatile Share Price
Exhibit II: Financial Data Services Market Players, 2002
Exhibit III: Reuters: Business Segments
Exhibit IV: Reuters: Revenue Analysis-Three Months to 31 March 2003
Exhibit V: Reuters: Key Financials [Year Ending 2002]


 

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