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"Russia Today" cancels contract with Reuters, too many lies

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Reuters was previously owned by the Rothschild banking family. They sold Reuters to the Thompson family in 2008. The new company is called Thompson-Reuters.  The Thompson family owns a majority of shares at 53%. Historically, no single individual has been permitted to own more than 15% of Reuters, under the first of the Reuters Principles, which states, “Reuters shall at no time pass into the hands of any one interest, group or faction.” However, that restriction was waived for the purchase by the Thomson family.

Pehr Gyllenhammar, chairman of the Reuters Founders Share Company, explained that the Reuters Trust’s First Principle had been waived for the Thomson family because of the poor financial circumstances that Reuters had been in, stating, “The future of Reuters takes precedence over the principles. If Reuters were not strong enough to continue on its own, the principles would have no meaning.” He stated, not having met David Thomson but having discussed the matter with Geoff Beattie, the president of Woodbridge, that the Thomson family had agreed to vote as directed by the Reuters Founders Share Company on any matter that the trustees might deem to threaten the five principles of the Reuters Trust. Woodbridge will be allowed an exemption from the First Principle as long as it remains controlled by the Thomson family.

David Thomson & family

Chairman, Thomson Reuters

Real Time Net Worth — as of 4/22/17

$26.2 B

    Thomson and his family control a media and publishing empire founded by his grandfather Roy Thomson.

    The family's biggest holding: more than 400 million shares of Thomson Reuters, where Thomson serves as chairman.

    They also hold a stake in telecom giant Bell Canada and own the Toronto-based Globe and Mail newspaper.

His father is Kenneth Thomson is considered as the 2nd Baron Thomson of Fleet, which makes him the 3rd Baron Thomson of Fleet. When his father died in 1976, he immediately took over as Chairman of the Board of Thomson Corporation. When Thomson Corporation acquired Reuters in 2008, he instantly became the Chairman of Thomson Reuters. As of the moment, his family owns 55% of the merging entity.

Together with his brother Peter, David Thomson is part of Woodbridge, a private holding company which owns Thomson Reuters, and owns shares and stakes at IHS and Strategic Hotels and Resorts.

With his $23 billion net worth in 2010, David Thomson and his family was considered as the wealthiest family in Canada. He and his family is known to own a diverse collection of Pablo Picasso and John Constable masterpieces.