By: E&P Staff Thomson Reuters said Wednesday it has made a formal offer to buy Breakingviews that was accepted by the board of the syndicated business commentary service.
No price was disclosed for the transaction, which Thomson Reuters said is expected to close within eight weeks.
Breakingviews offers financial columns carried by major newspapers worldwide, including The New York Times, Le Monde in Paris, El Pais in Spain and Handelsblatt in Germany. It has an estimated readership of 4.5 million.
Thomson Reuters said it expects to syndicate the service to other newspapers in the near future.
Breakingviews' current head Hugo Dixon will continue to run the service, which Thomson Reuters said will operate separately from its Reuters news service. Dixon is the former editor of the Lex business commentary feature in the Financial Times.
In addition to newspapers, Breakingviews' approximately 400 clients include financial institutions.
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