Thomson Reuters unveils $500 million share buyback plan

Nov 11 (Reuters) – Thomson Reuters plans to buy back up to $500 million of its shares, the content ​and technology company said ‌on Wednesday as concerns about rising AI costs weigh on its stock price. Under the plan, Thomson Reuters may buy up to ‌7 ​million common shares, or ⁠about 1.6% of ⁠its issued and outstanding shares, between November 13, 2026, and November 12, 2027. Here are more details: • Thomson Reuters ​said its controlling investor Woodbridge, which owns about 70% of the ⁠company, plans to ⁠participate proportionally in the buyback ​to maintain its stake • The company ​reported higher quarterly revenue earlier this ‌month but its shares fell on what some investors said were concerns over the impact on profit of ⁠higher AI spending • Wall Street has punished stocks from software firms to Alphabet and ⁠Amazon this ‌earnings season on fears ⁠that the mounting bill will ​eat ‌into corporate profits • Thomson Reuters’s ​Canadian ⁠shares have declined about 15% so far this year • Thomson Reuters is the parent company of Reuters News (Reporting by Aditya Soni in Bengaluru; Editing by ​Anil D’Silva)