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Thomson Reuters' CEO Discusses Q4 2011 Results - Earnings Call Transcript

Now today, we announced 3 disposals: Property Tax Services, a $100 million revenue business; our Law School Publishing business, with revenues of $45 million; and eXimius, a $10 million business in the Wealth Management unit of our Financial & Risk segment. Results for these 3 businesses are included within ongoing businesses for comparability purposes since we own them for the entire reporting period. These disposals are expected to close by midyear and are excluded from our 2012 outlook. On our website, we have posted our full 2012 outlook as an attachment to today's presentation. Lastly, in early April, we'll provide restated results for 2010 and 2011 that exclude these businesses.

Today's presentation contains forward-looking statements. Actual results may differ materially due to a number of risks and uncertainties discussed in reports and filings that we provide to regulatory agencies. You can access these documents on our website or by contacting our investor relations department.

It is my pleasure to now introduce the Chief Executive Officer of Thomson Reuters, Jim Smith.

James C. Smith

Thank you, Frank, and I'd like to thank all of you for joining us for my first earnings call as CEO. If anything has been reaffirmed to me over the past several weeks, it's just how strong this business really is. Our future is bright. Our core Professional businesses continue to deliver. We are making real progress in fixing the execution issues in some critical areas of our Markets business, and we're getting our product pipeline, including Eikon, back on track. Most importantly, we're seeing a number of opportunities to grow in a dramatically changing market environment. My new team is off to a flying start.

Today, I'll give you an overview of how we'll be managing the business. We will update you on the operational changes we've already put into place and we'll give you our outlook for 2012. But first, let me review our full year 2011 results.

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