Thomson Reuters has launched a wire service, called Reuters America, to compete with the Associated Press. The content comes more cheaply and that caught the attention of the still-bankrupt Tribune Co., which signed up to be RA's first client. According to fishbowlLA, the contract could save Tribune, which owns the Los Angeles Times, up to $4.5 million a year - any effect on quality is yet to be determined.
*Noted: For those who worry Thomson Reuters might do its work on the cheap... Remember when head of Thomson Reuters said this about foreign coverage?: "Why does The New York Times need to have 600-700 journalists? Why not 30 journalists with 30 apprentices?"