Leading media firms to increase collaboration, develop new offerings for the international business, sports and entertainment sectors
LONDON and SEATTLE (February 24, 2004)—Reuters and Corbis announced today the signing of a new, global partnership agreement in which the two companies will join forces to develop new content, product lines and services for clients worldwide. Revenues from the newly created lines of business will be shared between the two companies.
Under the deal, Reuters award-winning news photography and Corbis' commercial pictures and rights management services will be combined to create a total solution for sports federations, sponsors, corporations and event organisers around the globe. Reuters will also harness Corbis technology, utilising custom development and digital asset management services to power its picture archive service, containing over a million images.
Reuters has been serving the world's media for over 150 years and its news pictures service is recognised across the world for its high quality, speed, accuracy and integrity. The Reuters Pictures Archive serves the visual communication needs of a wide range of businesses, including publishers and broadcasters.
Corbis is a global provider of visual solutions that enable publishers, advertising and design agencies, filmmakers, and other creative professionals to tell their stories with impact that goes beyond words. Its contemporary and archival photography, in-depth feature stories, fine art and footage are seen around the world every day-differentiating brands, selling products, supporting news stories, and entertaining audiences.
"Corbis gives us unparalleled expertise in the area of intellectual property and rights management, along with the best technology infrastructure," said Monique Villa, Reuters Senior Vice President, Strategic Partnerships and Head of Pictures. "Combining Reuters world-class pictures with rights management skills and images from Corbis enhances our offering and provides a powerful alternative to the existing players in the market, " she added.
"This strategic alliance underscores our commitment to meeting the global needs of market sectors which are presently being underserved," said Jennifer Hurshell, Senior Vice President of Content Development and Corporate Communications at Corbis. "Major enterprise sponsors, sports leagues, and corporate marketers have struggled to find new channels with which to publicize their brands with compelling imagery. Together, Reuters and Corbis will enable clients to more easily access and utilize the broadest, most relevant, and highest quality image content in the world."
Corbis' existing distribution deal for Reuters images will also be extended from the US to the UK in the next three months.
ABOUT CORBIS®
Corbis provides total solutions that enable publishers, advertising and design agencies, filmmakers, and other creative professionals to tell their stories with impact that goes beyond words. Our contemporary and archival photography, fine art, illustrations, cartoons, and footage are seen around the world every day-differentiating brands, selling products, supporting news stories, and entertaining audiences.
Corbis images can be found and licensed at www.corbis.com . And client advisory services are available around the clock-including subject matter and conceptual research, rights management and clearances, and production expertise.
Corbis is headquartered in Seattle, with offices in New York, Los Angeles, Chicago, London, Paris, Düsseldorf, Vienna, Hong Kong, Kuala Lumpur, and Tokyo.
ABOUT REUTERS
Reuters (www.about.reuters.com) , the global information company, provides indispensable information tailored for professionals in the financial services, media and corporate markets. Our information is trusted and drives decision making across the globe based on our reputation for speed, accuracy and independence. We have 15,500 staff, including some 2,400 editorial staff in 197 bureaux worldwide. Reuters is the world's largest international news agency. In 2003, the Reuters Group had revenues of £3.2 billion.
Reuters and the sphere logo are the trade-marks of the Reuters group of companies.
MEDIA CONTACTS:
Corbis
Michael Croan (US)
+1 206 373 6158
michael.croan@corbis.com
Steven Robinson, Harvard PR (UK)
+44 (20) 8 564 6364
steven.robinson@harvard.co.uk
Harrison Wise, Trylon Communications (US)
+1 212 725 2295
harrisonw@tryloncommunications.com
Reuters
Susan Allsopp (UK)
+44 207 542 8404
susan.allsopp@reuters.com
Samantha Topping (US)
+ 1 646 223 5223
samantha.topping@reuters.com
