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Medialink Worldwide Sinks Further Into the Red
The financial woes of Medialink Worldwide, the largest producer of fake news products such as video news releases (VNRs) and audio news releases (ANRs), continue to get worse. In its report for the first quarter of 2009, the company states that revenues decreased by 34.5% or $1.7 million from the comparable period in 2008. With an operating loss of $1.3 million for the first three months of 2009, the company has restated its warning that if it is unsuccessful in obtaining further capital it "may not be able to continue as a going concern." Two weeks ago the Wall Street Journal reported that Michele Wallace, who was formerly Medialink's senior vice president of client services until she was laid off in May 2008, "lost family photos and every personal and business contact on her cellphone and computer" when the company's information-technology staff shut down her computer and BlackBerry. "Medialink did not return calls for comment," Joseph De Avila reported.