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Thomson Reuters Charts Its Path Forward After Sale of Global Print Business

In a significant maneuver, Thomson Reuters (TSX/Nasdaq: TRI) has embarked on a new journey following the sale of a 51% stake in its Global Print division. This transaction, which was finalized on October 1, 2026, has resulted in the formation of a joint venture with investment firm KKR, creating a new entity named Westbridge Print. This strategic decision underscores not only a shift in ownership but also a pivotal change in how Thomson Reuters will operate moving forward.

Financial Reporting Changes

As a direct consequence of this divestiture, Thomson Reuters will begin reporting the Global Print division as discontinued operations starting with the third quarter of 2026. This means that the company will restate prior periods to exclude the results of this business segment. With the supplemental financial information recently disclosed, revised results for 2025 and 2026 are now publicly available on the company’s investor relations webpage. It’s a clear sign that Thomson Reuters is emphasizing transparency and adaptability in its financial reporting.

The company’s financial outlook also presents a new growth narrative. Previously, estimates for organic revenue growth and adjusted EBITDA margins were calculated with the inclusion of Global Print. Adjusted forecasts now suggest a projected organic revenue increase of around 9% and an EBITDA margin near 35% for Q3 2026 without the Global Print business.

Transition and Implications

Westbridge Print, as part of the new joint venture, will pay a royalty rate of 20% on its professional revenue back to Thomson Reuters. This arrangement is based on an exclusive license for the distribution of Thomson Reuters’ vast intellectual property portfolio in print and digital formats, particularly on its ProView eBook platform. This financial agreement is intended to provide a steady revenue influx to Thomson Reuters while facilitating Westbridge Print’s operational growth.

Moreover, the joint venture has established a multi-year contract where Westbridge Print will reimburse Thomson Reuters for transitional services, allowing the newcomer to build its own operational backbone as a standalone entity. This forward-looking arrangement is aimed at minimizing disruption during the separation while optimizing financial outcomes for both parties involved.

The anticipated result of these transitions is an overall neutral impact on Thomson Reuters’ adjusted EBITDA margins following the tie-up with KKR, with analysts estimating approximately a 60 to 70 basis point increase in annual organic revenue growth, underlining the symbiotic relationship established through this joint venture.

Looking Ahead

Thomson Reuters plans to provide a comprehensive full-year 2026 outlook when it releases its third-quarter earnings on November 3, 2026. As the company forges ahead, its commitment to delivering trusted content and advanced technology solutions for its clients remains unwavering. Professionals across the realms of law, tax, audit, and media continue to rely on Thomson Reuters for insights and data essential in making informed decisions.

Thomson Reuters has made it clear that they are dedicated to evolving by continually refining their strategies in response to market demands and operational challenges. This recent sale not only transforms its business structure but also positions the company for sustainable growth within a rapidly changing marketplace.

Conclusion

With this strategic sale, Thomson Reuters is not just divesting but reimagining its service delivery framework in the global print landscape. Alongside KKR, the company is positioned to leverage its strengths in content and technology to navigate future challenges. The path ahead is laden with potential, as Thomson Reuters sets sights on reinforcing its leadership in providing trusted journalism and essential information services.