PR Newswire has longer arms now

United Business Media the parent company of PR Newswire said that it has acquired US Newswire for $19 Mil. Ok so when will the pink slips be issued being that there may be some serious redundancies? PR Newswire Association LLC, a unit of United Business Media PLC, said Monday it bought U.S. Newswire from Medialink Worldwide Inc. for $19 million and an earnout of up to $4 million in order to expand its customer base in the government and public interest sectors and add improved distribution channels. The final purchase price will be based on U.S. Newswire's performance for the trailing 12-month period ending Sept. 30, the effective date of the deal. Medialink said it received $16.1 million at closing, with the remainder being held in escrow for up to a year PR Newswire Buys U.S. Newswire [AP]