Link economy and journalism


The following is a guest column by Chris Ahearn, President, Media at Thomson Reuters. Last summer, I published a blog post that laid out my feelings about the link economy and its positive contribution to the evolution of the business of journalism. One year later, Reuters.com continues to encourage linking to the rich content we offer and even pulling interesting excerpts for discussion in a different forum. In exchange for that occasional use of our content, we ask others to respect the hard work our journalists put into their craft and in some cases risk their lives in doing so by offering prominent links and attribution. We encourage bloggers and individuals to use a teaser and perhaps add their own perspective to enhance the online experience.  The RSS feeds on Reuters.com are designed to make this easy to do. Recently, we engaged in a controlled experiment with Attributor to identify websites that republish complete or near complete versions of Reuters articles and have a commercial model, without a license or agreement. In many cases those websites utilize third party ad networks to monetize their audiences.  Some question why we object to websites posting full copies of our stories without a licensing agreement. The answer is simple – we believe it is neither fair nor legal nor ethical. Our efforts to identify such environments are focused on opening up a conversation with these publishers to create a mutually beneficial relationship.  In the last few days, we received many emails about this experiment, varied in tone from humorous to helpful to downright nasty.  It seems, however, that some of the facts are being overlooked. First, we absolutely respect and encourage people to discuss and debate breaking news, particularly when referencing our reporting.  We believe it makes societies stronger and are delighted when it happens.  Second, we expect websites and users to kindly respect how we wish our content is linked to and excerpted as opposed to copying and pasting (again, that is why we make our RSS feeds available and always welcome linking to the Reuters.com network).  Third, if websites are commercial in nature (i.e. take advertising) and want to post our full articles we should have a fair commercial relationship. We have established commercial license agreements with some of the biggest brands in the world to utilize the work of our journalists, but we also have tailor made agreements for smaller publishers, bloggers and individuals to create a model that works well for all parties. The way I see it, I prefer to resolve issues with our business development arm rather than through lawyers.  That way we can find new ways that respect each other’s hard work and make journalism prosper in the digital age.  Perhaps it is old fashioned, but to me that is doing unto others.

UPDATE 1-State Street Q3 profit rises, beats estimates


Revenue in the third quarter was $2.43 billion, up 5 percent from $2.3 billion in the year-earlier period.Analysts had been downbeat about State Street’s prospects because of ultra-low interest rates and depressed stock market levels. U.S. investors withdrew a net $45.7 billion from long-term mutual funds in the third quarter, according to Morningstar Inc. That was partially offset by investors adding a net $19.7 billion to exchange-traded funds during the quarter.State Street shares are down 27 percent this year, underperforming the 4.5 percent decline on the Standard & Poor’s 500 Index.

Silicon Valley, celebs pay tribute to Steve Jobs


Guests arrived in dozens of black limousines and walked up a path lighted by hundreds of large white candles to Memorial Church in the heart of Stanford University’s campus. The event was heavily patrolled by police and security and walled off to the public.Apple CEO Tim Cook, who took the helm of the world’s largest technology corporation in August when the industry icon declared he could no longer lead Apple, walked up to the chapel with a man dressed in the garb of a Buddhist monk.Maria Shriver, estranged wife of former California governor Arnold Schwarzenegger and U2 frontman Bono stopped to exchange words with others in the courtyard before heading in.Apple software chief Scott Forstall, former President Bill Clinton and News Corp Chief Digital Officer Jon Miller were also among those in attendance.Jobs died last week at the age of 56 after a long battle with a rare form of pancreatic cancer. The visionary inspired iconic products such as the iPod, iPhone and iPad, which made him one of the most significant industry leaders of his generation.Jobs had struggled with health issues but said very little about his battle with cancer since an operation in 2004. When he stepped down in August, handing the CEO reins to long-time operations chief Tim Cook, Jobs said simply that he could no longer fulfill his duties as chief executive.Jobs’ Sunday memorial — days after a small private funeral service — comes after the iPhone 4S last week smashed sales records for Apple and some of its carrier partners such as AT&T Inc and Sprint.Employees will hold a separate celebration of his life on Oct 19 at company headquarters at 1 Infinite Loop, Cupertino.