Thomson Reuters has announced plans to sell a 51% stake in its Global Print business to private equity firm KKR for approximately $500 million in gross proceeds. According to reports from Reuters, the deal was announced on Tuesday and will allow KKR to form a venture with exclusive license to distribute Thomson Reuters' content in both print and digital book formats. The transaction will allow Thomson Reuters to retain intellectual property rights and editorial control while maintaining a 49% stake in the venture. The joint venture will hold an exclusive license to distribute content in print and via ProView eBook platform. As per Investing.com, the deal was signed as a definitive agreement with Thomson Reuters receiving approximately $500 million in gross proceeds at closing. RTTNews reports that the Global Print business provides legal and tax information through print publications and ProView, its eBook platform, and also offers commercial printing services to book publishers worldwide.
The Global Print business generated $490 million in revenue last year, representing nearly 25% of total company revenue. As reported by Reuters, the unit supplies legal and tax information to customers worldwide in print and digital book formats, as well as offering commercial printing services to book publishers. According to Investing.com, the Global Print business provides legal and tax information in print format and via ProView to customers globally and offers commercial printing services to book publishers. The unit serves customers primarily in the United States, Canada and the United Kingdom, providing information to legal and tax professionals, governments, law schools and corporations. However, the company expects the unit's sales to decline annually as customers migrate to online products, making this divestiture strategically important for the company's future focus.
The divestiture will enable Thomson Reuters to concentrate on its 'Big 3' business segments of legal professionals, corporates and tax, and audit and accounting. According to Reuters, CEO Steve Hasker stated that the transaction provides the Global Print business with focused investment and operational capabilities to thrive as a standalone entity. "We believe this transaction with KKR provides our Global Print business with the focused investment, operational capabilities, and independence to thrive as a standalone business," Hasker said. "At the same time, it sharpens Thomson Reuters focus on providing innovative fiduciary-grade AI solutions for the legal, tax, audit and compliance industries." As per Investing.com, KKR Partner and Co-Chief Investment Officer for Global Atlantic, Brian Dillard, stated the firm sees an opportunity to support the Global Print business as a standalone proposition and help Thomson Reuters optimize its portfolio of businesses. The deal aligns with KKR's broader strategy of acquiring media and publishing assets from companies focusing on digital transformation.
Under the agreement, Thomson Reuters will provide financial support to guarantee KKR a minimum return on its investment in certain circumstances. As reported by Reuters, the company expects the deal to close in the fourth quarter of 2026. The transaction is subject to specified regulatory approvals and customary closing conditions but is not subject to financing conditions. According to Investing.com, Centerview Partners LLC is serving as financial advisor to Thomson Reuters. The arrangement allows Thomson Reuters to focus on providing innovative fiduciary-grade AI solutions for legal, tax, audit and compliance industries while maintaining its core business segments. RTTNews reports that in pre-market activity, Thomson Reuters shares fell 0.31% from Monday's closing price of $94.29, while KKR shares dropped 0.89% after closing at $96.91 on Monday.
Thomson Reuters' stock has received a Moderate Buy rating from 10 Wall Street analysts, with seven Buy and three Hold recommendations issued in the last three months. According to TipRanks, the average TRI price target of $135.89 implies 49% upside from current levels. The company is best-known for its international newswire that feeds media articles to newspapers and journalism outlets worldwide. The divestiture represents part of a broader trend where private equity firms are acquiring traditional media assets as companies pivot toward digital transformation. KKR has been actively buying up media and publishing units from companies like Thomson Reuters to focus on faster-growing digital businesses, making this transaction strategically aligned with current market trends.
