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US: DOJ Approves GTCR to buy PR Newswire

By  |  June 12, 2016

Cision, a public relations software provider controlled by private equity firm GTCR LLC, has won US antitrust approval to buy press release distributor PR Newswire from UBM on condition that it sell a media contact database, the Justice Department said on Friday.

UBM had said in December that it would sell PR Newswire to Cision for $841 million to focus on its events business.

PR Newswire has agreed to sell its Agility database in a settlement that would preserve competition, the Justice Department said in a statement. Cision is the largest of three major media database providers and PR Newswire is No. 3, it noted.

Full Content: Reuters

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