Medialink Worldwide -- the largest producer of fake news products such as video news releases (VNRs) -- is in financial meltdown. Almost two years ago the Center for Media and Democracy reported that Medialink had placed its faith in selling off assets, trying to boost international income and investing in the digital watermarking system Teletrax. The company's latest quarterly report reveals that, faced with accelerating losses, the company has agreed to sell Teletrax to Philips Electronics and sold "certain assets of its UK-based media communications services operation" to World Television Group. Not surprisingly, Medialink's share price has collapsed to an all-time low of just 30 cents, down from $3.65 at the start of the year. PR Week reports that, according to industry sources, Medialink is "considering offering itself up for sale."
Posted by Bob Burton on August 18, 2008