Media services vendor Medialink, known to most PR professionals for its work in broadcast and video PR, has been acquired by The NewsMarket. Both companies issued competing releases. The Newsmarket’s lead with the headline, “The NewsMarket to Acquire Medialink,” while Medialink’s proclaimed, “Medialink Worldwide Announces Signing of Merger Agreement.” Medialink told PRWeek earlier this year that it may “cease operations if it doesn’t receive third-party investment or attract a buyer.”
Romina Rosada, Global Head of Marketing for the NewsMarket told PRNewser, “The NewsMarket is indeed acquiring Medialink and we will own all the outstanding stock once the deal is approved by shareholders.”
According to the NewsMarket release, “For the 12 month period ending March 31, 2009, Medialink recorded revenues of $17.95 million.” The NewsMarket bought shares at $.20, which represented a 100% premium of the from the last trading price of Medialink’s common stock on May 27, 2009. Ergo Medialink was last traded at $.10 per share.
D S Simon Productions President& CEO Doug Simon told PRNewser, “Medialink deserves credit for helping to make broadcast PR a necessary part of effective campaigns. It’s a sad day for PR.” PRWeek‘s Tonya Garcia has more.