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The Power of NewsThe History of Reuters$
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Donald Read

Print publication date: 1999

Print ISBN-13: 9780198207689

Published to Oxford Scholarship Online: October 2011

DOI: 10.1093/acprof:oso/9780198207689.001.0001

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Making the New Reuters, 1963–1981

Making the New Reuters, 1963–1981

(p.342) Twelve Making the New Reuters, 1963–1981
The Power of News

Donald Read

Oxford University Press

This chapter explores how Reuters was transformed after Cole's death in 1963. Reuters' commitment to following high principles of conduct in the collection and distribution of news and information remained the same; but the process was much altered in practice. Gerald Long became the general manager and immediately began to seek better ways of monitoring costs and revenue. He also introduced a comprehensive policy for staff relations. It appeared that Reuters took up the new information technology not in any spirit of daring, but in a spirit of realism. Long and his colleagues knew that if Reuters did not adopt the latest technology, subscribers would turn to competitors. Furthermore, the option of venturing into a computerized dealing service had also been considered when the Money Rates service was under discussion.

Keywords:   Reuters, information technology, policy, Gerald Long, Money Rates service

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