2006 News Releases
02 October
United Business Media buys US Newswire for $19.0m
Strengthens PR Newswire position in U.S. policy market
United Business Media plc announces today that it has acquired U.S. Newswire from Medialink Worldwide Inc. (Nasdaq: MDLK) for an initial cash consideration of $19.0m. A further deferred consideration of up to $4m will also be payable over the next year, subject to certain conditions.
U.S. Newswire is a leading distributor of press releases for the policy sector including U.S. government, public affairs and non-profit organization news sources. Consistent with its strategy of focusing on its core news distribution business, the acquisition of U.S. Newswire will augment PR Newswire’s customer base in the government and public interest sectors, particularly in the important Washington, DC market. U.S. Newswire is expected to generate revenues of around $6 million in 2006.
The acquisition is anticipated to meet UBM’s 8% post-tax cost of capital criterion for acquisitions in its first full year of ownership.
Charles Gregson, CEO of PR Newswire said:
“We are very pleased to complete the acquisition of U.S. Newswire and augment our existing offering in the important policy news market. We continue to see attractive opportunities for the further development of PR Newswire both through more acquisitions and continued organic development in the US and worldwide."
- Ends -
Contacts
Media
Peter Bancroft Director of Communications
E-mail communications@ubmgroup.biz
Direct telephone +44 20 7921 5961
Chris Barrie Citigate Dewe Rogerson
E-mail chris.barrie@citigatedr.co.uk
Direct telephone +44 20 7282 2943
Mobile +44 796 872 72 89
Analysts
Catherine Southgate Head of Investor Relations
Email investorrelations@ubmgroup.biz
Direct telephone +44 20 7921 5031
Notes to Editors
1. About United Business Media plc
United Business Media is one of the world's leading global business
information companies. UBM brings together the world's buyers and
sellers, helping their markets work effectively and efficiently
through PR Newswire's news distribution network,
Commonweath’s trade and transportation business intelligence,
and through CMP's portfolio of events, print and on-line
publications. For more information, go to
www.unitedbusinessmedia.com
1.1. About PR Newswire
PR Newswire is the world's leading corporate news distribution
service. Headquartered in New York, PR Newswire provides news
distribution, targeting, measurement and broadcast services on
behalf of tens of thousands of customers including many of the
world's top companies and agencies. PR Newswire has offices
in 11 countries and routinely sends its customers' news to outlets
in 135 countries and in more than 40 languages. PR Newswire's
services include ProfNet Experts, eWatch, MEDIAtlas, Search Engine
Optimization , MediaRoom, MediaSense and MultiVu. For more
information, go to
www.prnewswire.com
1.2. About CMP / Commonwealth
CMP's portfolio of more than 200 newspapers, magazines and
directories, 200 websites and 300 events brings together buyers and
sellers from a range of global sectors including technology,
healthcare, the built environment, lifestyle, fashion and
ingredients. CMP operates globally through four divisions:
1.2.1. CMP Asia: Headquartered in Hong Kong with offices throughout the region, CMP Asia is a leader in exhibitions and online and print business information publications for Asian markets. Working with partners from around the world, CMP Asia stages a range of leading events which includes the largest international jewellery, leather and fashion, beauty and furniture trade shows in Asia, as well as the definitive health show for the Japan market. For more information, go to www.cmpasia.com
1.2.2. CMP Information: Operating in the UK and internationally, CMPi provides professional media solutions to around 20 industry sectors. Its products include magazines, exhibitions, conferences, awards events, information products and websites, targeted at business professionals across a range of markets such as the built environment, travel, licensed trade, agriculture, security and ingredients. For more information, go to www.cmpi.biz
1.2.3. CMP Technology: CMP Technology is the USA's leading high tech B2B media company, providing marketing solutions for the global technology industry. Through its market-leading portfolio of trusted information brands, CMP Technology has earned the confidence of more technology professionals than any other media company. As a result, CMP Technology is the premier provider of access, insight and actionable programs designed to connect sellers and buyers in ways that yield superior return on investment. For more information, go to www.cmp.com
1.2.4. CMPMedica: CMPMedica provides information and education to healthcare professionals and patients around the world. It has a unique portfolio of professional media products including newspapers, magazines, drug directories, electronic databases, websites and events. For more information, go to www.cmpmedica.com
1.2.5. Commonwealth Business Media:
Commonwealth Business Media is the leading information provider to
the global trade and transportation market with comprehensive
proprietary data, news and analytical content. Its leading brands
include Port Import Export Reporting Service (“PIERS”)
Global Intelligence Solutions, BACK Aviation Solutions
(“BACK”), The Journal of Commerce and a number of
directory databases covering the international trade, railroad and
trucking markets. Commonwealth is headquartered in East
Windsor, New Jersey with offices around the US and
internationally. For more information, go to
www.cbizmedia.com
