UBM, the parent company which agreed to sell PR Newswire to Cision last month for $841M, said that federal regulators have asked for information about "certain PRN products."
UBM said the sale is now expected to close after the first quarter after initially planning for a close before the end of Q1.
The company said the US Department of Justice requested "additional information and documentary material ... relating to certain PRN products which account for a very small portion of PRN's global revenues."
UBM and Cision are both cooperating fully with the DOJ requests, said a statement.
"Both parties remain confident that completion will be achived," they said.
When executed properly, PSAs have unique staying power and register with the viewer on a much different level than mere ads trying to sell something, explained 4media group chief client officer Laura Pair at the Mid-Atlantic MarCom Summit Oct. 9 in Washington, D.C.
Demystifying wire services, online only options & content syndication.
Join Shauna Nuckles of Advocation and Tony Cheevers of Researchscape as they discuss the potential of productized PR services during an O'Dwyer's recorded webinar. Discover insider strategies and real-world examples of productized service offerings.
SaaS platforms now allow businesses to effectively manage and execute their own PR campaigns, putting pressure on agencies to demonstrate the value of the “traditional” PR model.
