Breaking: David Thomson’s Union Dispute Hurdle Cleared… How Many Left to Go?

Just yesterday we were waxing poetic on the many woes of David Thomson — now, it seems, he has one fewer thing on his plate.

The Newspaper Guild of New York — the a local trade union — has reached a “tentative agreement” with Thomson Reuters, according to a statement the organization released this morning, after a protracted standoff between the two groups.

The ongoing negotiations between Thomson and the Guild had been a sore spot for the Canadian billionaire — particularly after a the release of a scathing letter from the New York City Council, that the Observer published. The letter pointed out that while Thomson is the wealthiest person in Canada, according to Forbes, Thomson Reuters still receives government subsidies.

Luckily for Thomson, however, this issue might be resolved — and just in the nick of time. According to a written statement from the Guild, “the tentative pact was signed just hours before the expected issuance of a federal complaint against Thomson Reuters by the National Labor Relations Board.” Yikes.

The terms of the deal, which was reached after a “marathon… 21-hour bargaining session” includes $7.6 million for lost pay, to be distributed among members, incrementally.

In a written statement, Guild President Bill O’Meara said he hopes this agreement will quell the discord between Thomson Reuters and the Guild.

“We’re pleased to have reached a tentative agreement that we hope will put our dispute with Thomson Reuters in the past,” O’Meara said. “We look forward to a more productive and cordial relationship with the new Editorial management team.”

A representative for Thomson Reuters was not immediately available for comment.

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