British cooperative news agency .
Founded in 1851 by Paul Julius Reuter , it was initially concerned with commercial news but began to serve a growing newspaper clientele after the London Morning Advertiser subscribed in 1858. After a period of competition, Reuters and two rival agencies agreed on a division of territory and for many years held a virtual monopoly on world press services. The company remained in private hands until 1925, when its structure began moving toward a cooperative of British and Australasian press interests. By the late 20th century Reuters was a world leader in business and financial market coverage. In 1984 it became a public company under the name Reuters Group PLC.