British cooperative news agency. Founded in 1851 by Paul Julius Reuter, it was initially concerned with commercial news but began to serve a growing newspaper clientele after the London Morning Advertiser subscribed in 1858. After a period of competition, Reuters and two rival agencies agreed on a division of territory and for many years held a virtual monopoly on world press services.
The company remained in private hands until 1925, when its structure began moving toward a cooperative of British and Australasian press interests. In 1984 it became a public company under the name Reuters Group PLC. By the late 20th century Reuters was a world leader in business and financial market coverage. In 2007 Thomson Corp., a Canadian electronic publisher, agreed to purchase Reuters.
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