NEW YORK, June 8 /PRNewswire/ -- United News & Media plc (Nasdaq: UNEWY)
announced today that its fast-growing international news release distribution
and Internet company, PR Newswire, has acquired UK-based news release
distributor Two-Ten Communications from the Press Association for
$27.2 million.
The purchase enhances PR Newswire's position as the world leader in the
distribution of news releases to the media and financial community and creates
a strong base for the provision of pan-European services in the support of the
developing public and investor relations markets of the region. The move to
acquire Two-Ten, the largest distributor of corporate news in the UK, follows
PR Newswire's recent global expansion and acquisition of NEWSdesk
International, http://www.newsdesk.com, the highly popular Internet news
retrieval and tracking service for global technology and healthcare markets.
"This acquisition will provide companies and agencies with an even better
system for delivering their news at a time when the pan-European market is on
the verge of dramatic expansion," said Ian Capps, PR Newswire president.
"Two-Ten's clients now will be able to tap directly into our comprehensive
distribution network, especially in the United States. Our global customers
will receive more effective, integrated coverage of Europe, the Middle East
and Africa."
PR Newswire now will service Two-Ten customers with its extensive and
sophisticated product line, which includes a full range of delivery options
through wire, fax, e-mail and the Internet, multimedia tools such as
Conference Calls on the Web and cybercasting of events, access to expert
sources, online news release and photo archives, and a complete investor
relations web site with key financial data.
The acquisition was approved by the board of United News & Media, a
U.K.-based international media information conglomerate that has been
PR Newswire's parent corporation since 1982.
"United's management is committed to delivering double-digit revenue
growth in the medium term," said Charles Gregson, executive director of UN&M.
"Accelerating the growth of PR Newswire and the strategic investment in
Two-Ten Communications, a market leader with excellent potential for product
and geographic expansion, is a clear example of how we will achieve this
goal."
Two-Ten is the leading disseminator of news releases for European
companies, distributing the news of more than 10,000 organizations to
135 countries in 25 languages. The Two-Ten News Network,
http://releases.twoten.press.net, provides Internet access of its wire and an
extensive archive searchable by date, topic and company. It was part of the
Press Association Group, which is the UK's national news agency, supplying
news, sports and information services to all UK newspapers, major broadcasters
and online publishers.
As the established leader in the industry, PR Newswire satisfies the
growing demand for the delivery of information to the media, financial
community and consumers on behalf of 33,000 companies, institutions and
agencies worldwide. Reaching more than 22,000 media outlets and the terminals
of over 675,000 institutional investors, PR Newswire also has
19,000 journalists registered to access information via NEWSdesk and the
journalists-only web site, the PRN Press Room, http://www.prnmedia.com.
PR Newswire, which founded the electronic news release distribution
industry in 1954, has expanded its global delivery options for information and
photos into a vast wire, fax, e-mail and Internet network capable of pinpoint
or mass distribution. It has 29 bureaus in the U.S., international bureaus in
Hong Kong, London, Paris, Frankfurt and Sao Paulo, and an exclusive
partnership with Canada NewsWire.
For more information, please contact: Renu Aldrich, PR Newswire's Manager
of Public Relations, Renu_Aldrich@prnewswire.com; or Ricardo Tejada of United
News & Media plc, tejadar@unm.com.
SOURCE PR Newswire
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Related links:
http://www.prnewswire.com
http://www.newsdesk.com http://releases.twoten.press.net
CONTACT:
Renu Aldrich, Manager of Public Relations, of
PR Newswire, +1-212-282-1929, pager, 800-503-2654,
Renu_Aldrich@prnewswire.com; or Ricardo Tejada of United News &
Media plc, +44-171-921-5031, tejadar@unm.com
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