TAKEOVER OF REUTERS

Early day motion 1912, tabled 16 July 2007 by Austin Mitchell (Labour). Signed by 33 members.

That this House notes the takeover of Reuters, the global financial and media organisation, by Thomson of Canada, which could result in the Thomson family holding as much as 53 per cent. of the organisation; further notes the multi-million pound windfall which chief executive Tom Glocer will receive; is concerned with the lack of transparency over the implications for staff resulting from the proposed merger in light of recent cutbacks and sub-inflationary wage rises for staff; believes the merger should be subject to the most rigorous scrutiny by all parties involved, including negotiation with the unions representing affected staff; therefore calls on both companies to honour terms and conditions of employment, to seek to avoid redundancies and to honour in full commitments to the Reuters Pension Fund, Reuters Retirement Plan, Thomson Financial pension scheme and other pension schemes; and further calls on the company to maintain the integrity and independence of news in line with Reuters Trust principles and the long-established editorial standards of Thomson Financial News.

Signatures by party: Labour 24, Liberal Democrat 3, DUP 2, Social Democratic and Labour Party 2, Independent 1, Plaid Cymru 1.