PR Newswire gains ground on RNS in battle for City news

The fight for leadership in the regulatory news dissemination market is shaping up as a two-horse race between the London Stock Exchange's Regulatory News Service and PR Newswire.

Figures released this week from the Financial Services Authority, which opened up the market to competition two weeks ago, reveal RNS's grip on the sector is slipping.

RNS's share of financial company announcements fell to 88.5 per cent this week, putting out 7,804 announcements.

While the LSE-owned service remains the leader in the market, United Business Media's PR Newswire is gaining ground, notching up 824 announcements, or 9.3 per cent.

PR Newswire has reportedly signed non-exclusive deals with Brunswick, Tavistock Communications, The Maitland Consultancy and Financial Dynamics.

Other corporate clients include Logica, Cable & Wireless, BAA, Somerfield and Cadbury.

Rival regulatory information services only managed to bag just over two per cent between them.

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