UBM/Medialink bid off as PRN steps up competition

United Business Media has withdrawn its £3.47-a-share

unsolicited takeover bid for Medialink Worldwide.

But UBM subsidiary PRNewswire has suggested that it will instead aim to

go head-to-head with the electronic media giant.

UBM and Medialink both claim the other did not present adequate interest

in the three-month-old takeover deal, which aimed to combine Medialink's

online, video production and distribution capabilities with PRN's

distribution of press releases and related multimedia.

PRN chief executive Charlie Morin vowed to continue his current strategy

to expand PRN either through acquisition, growth, or a combination of

the two: 'We will pursue a direction that will likely put us in direct

competition with Medialink in the not too distant future.'

Medialink chairman, president, and CEO Larry Moskowitz responded: 'I

find it humorous that he says this, because they've been trying to

compete with us for at least five years, if not more.

'We look forward to increased activity because it will help grow the

market. We hope they will be innovative,' he added.

Both Medialink and UBM's Nasdaq-listed stock fell on the day of the


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