The first quarter report of 2008 by Medialink Worldwide -- the largest producer of fake news products such as video news releases (VNRs) and audio news releases (ANRs) -- makes for grim reading for investors. The company reports that revenues from "media communications services" dropped by 18% overall, with a 9.2% drop in the U.S. and 41.6% internationally. Medialink's President and CEO, Larry Moskowitz attributes the slump to "the overall economic downturn in the first quarter of 2008." Many investors are aren't waiting for the company's fortunes to improve and are voting with their feet. Since the start of 2008, the company's share price has dropped by over 72%.
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