Parker Swallows His Pride; Sells CCBN to Thomson

Jeff Parker is on the brink of joining that exclusive club of entrepreneurs who have sold their various businesses to the same acquirer more than twice. Parker’s achievement is even more remarkable that, say, that of Ed Miller of Reuters fame, in that Parker recently launched a lawsuit against Thomson Financial, which last month announced it had signed a definitive agreement to buy Corporate Communications Broadcast Network (CCBN). Even at the time of the lawsuit, Thomson owned 10% of CCBN. Chairman and CEO Parker’s suit charged Thomson with using confidential information from CCBN board meetings to compete against the smaller company. In fact, Parker took the extraordinary step of writing to CCBN’s clients to explain his position. In the letter – in the form of a memo, addressed to “Wall Street Professionals,” Parker described Thomson as “the proverbial 800-pound gorilla,” whose behaviour “has been so egregious and so devoid of ethics, it is staggering.” Apparently not quite staggering enough to turn down a cheque from Boston.