Medialink, the worldwide provider of video and audio production and
distribution, is about to become the first PR services provider to go
public by floating on the Nasdaq stock exchange.
Trading is likely to begin this week and it is thought that the initial
public offering will be between dollars 9 and dollars 11 per share. Net
proceeds from the sale of 2,000,000 shares of common stock are estimated
at USdollars 17.75 million after expenses.
The New York-based company whose international activities are
co-ordinated from London plans to use the proceeds to continue its
global expansion with a long-term focus on the Pacific Rim as well as
developing new services and rolling out existing US-based services on a
Medialink is also looking to pursue acquisitions and strategic alliances
with companies that can add to its service capabilities or geographic
Established in 1986, Medialink opened a London office and launched its
international services three years ago. It has 17 international
affiliates with international revenues of pounds 2.1 million for the
nine months ended September 30 1996.
In July 1996, Medialink acquired certain assets of PR Data Systems Inc
expanding its research capabilities and adding print news release
distribution services to its portfolio in the US.