Bloomberg faces a new Wall Street challenger

There's a new powerful entrant in the battle for financial data supremacy: Blackstone.The private equity firm ...

Posted: Jan 31, 2018 11:47 AM
Updated: Jan 31, 2018 11:47 AM

There's a new powerful entrant in the battle for financial data supremacy: Blackstone.

The private equity firm has agreed to buy a majority stake in Thomson Reuters' financial and risk unit for $17 billion, putting it in direct competition with Bloomberg.

Bloomberg and Thompson Reuters provide financial data and other services to bankers, investors and regulators. Other smaller companies like FactSet also compete in the market.

Thomson Reuters will retain a 45% stake in the data unit. The group also owns a major international news operation and a unit that specializes in legal and tax and accounting services.

"We are delighted to partner with Thomson Reuters," Joe Baratta, Blackstone's global head of private equity, said in a statement. "This is a landmark transaction for Blackstone and our investment partners."

Bloomberg has long been the leading player in the financial data industry, leasing its "terminals" to investors for more than $20,000 a year.

The machines offer thousands of stats on stocks and bonds and commodities - just about anything that can be traded. They also include a messaging platform, which traders use to share information.

Many investors consider the Bloomberg product indispensable -- and even a status symbol. There are more than 325,000 terminals installed worldwide. Others on Wall Street resent Bloomberg's dominant position.

Related: Bloomberg chief apologizes for data snooping

The private firm founded by former New York City mayor Michael Bloomberg has faced other new competitors in recent years -- including products backed by major banks.

One upstart, called Symphony, was developed by Goldman Sachs and supported by other major Wall Street firms.

Last year, Symphony announced it would integrate some features and functions from Thomson Reuters' flagship product, Eikon. That includes Eikon Messenger, a free service that is used by over 300,000 people.

Thomson Reuters will retain full ownership of its legal, tax and accounting division. The company's news operation is not included in the deal and will continue to have editorial independence.

The deal includes a provision that will require the Blackstone-led data partnership to purchase Reuters news for a minimum of $325 million annually over three decades.

Mississippi Coronavirus Cases

Data is updated nightly.

Cases: 515504

Reported Deaths: 10296
CountyCasesDeaths
Harrison34999558
DeSoto33360432
Hinds32743643
Jackson24906392
Rankin22565405
Lee16455245
Madison14954283
Jones14158248
Forrest13834260
Lauderdale12311323
Lowndes11357193
Lamar10693140
Pearl River9748244
Lafayette8868143
Hancock7849132
Washington7559169
Oktibbeha7229138
Monroe7068179
Pontotoc7033110
Warren6885178
Panola6791135
Neshoba6744210
Marshall6707142
Bolivar6468151
Union643598
Pike5942157
Alcorn5921107
Lincoln5540136
George510680
Prentiss508285
Tippah495683
Itawamba4884107
Scott478999
Tate4777117
Adams4776125
Leflore4749144
Copiah458195
Yazoo458092
Simpson4566117
Wayne443472
Covington434895
Sunflower4319106
Marion4295112
Coahoma4244110
Leake414191
Newton396182
Tishomingo386894
Grenada3789109
Stone366166
Jasper341266
Attala340490
Chickasaw318367
Winston318392
Clay312978
Clarke301695
Calhoun286850
Holmes272889
Smith270552
Yalobusha244947
Tallahatchie232353
Greene225149
Walthall222166
Lawrence220242
Perry214556
Amite210357
Webster206548
Noxubee188843
Montgomery182157
Carroll175441
Jefferson Davis174343
Tunica163539
Benton153139
Kemper145441
Choctaw137027
Claiborne134839
Humphreys132239
Franklin126530
Quitman107828
Wilkinson106139
Jefferson97134
Sharkey65321
Issaquena1957
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Alabama Coronavirus Cases

Cases: 847659

Reported Deaths: 16172
CountyCasesDeaths
Jefferson1163752005
Mobile743371381
Madison53434738
Shelby38413371
Baldwin38171589
Tuscaloosa36131643
Montgomery34571782
Lee25664264
Calhoun22622519
Morgan22527408
Etowah20059520
Marshall18821318
Houston17769426
St. Clair16946359
Limestone16192220
Cullman16140305
Elmore15948295
Lauderdale15055307
Talladega14244302
DeKalb13061271
Walker12138380
Blount10765193
Autauga10545157
Jackson10204195
Coffee9435192
Colbert9363210
Dale9038192
Tallapoosa7283202
Russell710165
Chilton7078170
Covington6967197
Escambia6962144
Franklin6364108
Chambers5795142
Marion5435130
Dallas5302210
Pike5128109
Clarke485686
Lawrence4845130
Winston4785110
Geneva4650136
Bibb435495
Barbour370180
Butler3444101
Marengo342793
Monroe338366
Randolph337767
Pickens334790
Fayette331485
Henry321066
Cherokee319964
Hale318889
Crenshaw261678
Washington256852
Cleburne255460
Lamar253555
Clay252069
Macon245767
Conecuh193562
Coosa185847
Wilcox178338
Lowndes178268
Bullock152745
Perry141840
Sumter139741
Greene130345
Choctaw94328
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