NEW YORK: PR Newswire has acquired US Newswire from Medialink for $19 million and an earnout of up to $4 million.
The move will help PR Newswire to expand its customer base in the government and public interest sectors and gain improved distribution channels to reach media and online audiences.
"Since its inception, U.S. Newswire has done an exemplary job serving the needs of both the media who cover politics and public policy as well as PR professionals both inside the Beltway and beyond," said Dave Armon, COO of PR Newswire in a press release. "We are committed to building on this legacy and providing additional technology and product innovation expertise to U.S. Newswire customers. We are pleased to welcome U.S. Newswire staff and customers into the PR Newswire family."
U.S. Newswire VP of Sales & Marketing Communications Brian Taylor will join PR Newswire and lead the integration. Co-founder William McCarren will assume a new role within Medialink, according to the release.
Laurence Moskowitz, president and CEO of Medialink, cited the deal as a "win-win" for both parties involved. "PR Newswire acquires an incomparable brand to continue to expand its distribution client base and service portfolio, while Medialink generates the capital necessary to fully develop its global Teletrax video tracking service and exploit Internet-based video opportunities for its media communications business," he said in a press release.