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Marketwire
Market Wire

Market Wire

April 03, 2006 08:00 ET

CCNMatthews Acquires Market Wire to Form Full Service Newswire with Largest Media Distribution Footprint in North America

TORONTO, ONTARIO--(CCNMatthews - April 3, 2006) - CCNMatthews, one of Canada's leading newswires, announced today that it has acquired Market Wire, a full-service distributor of company press releases and financial news announcements, and the third largest commercial newswire in the United States. This positions CCNMatthews as a fully-integrated North American newswire, granting clients access to enhanced distribution options in the United States and around the world.

"Market Wire has emerged as a technology leader in the newswire industry, and until recently, has been one of its best-kept secrets," said Michael Nowlan, president and CEO of CCNMatthews. "Over the past several years we have seen strong developments in the Market Wire product offering, and its growing success in the marketplace is in part due to their extensive distribution networks, technological leadership and complementary services designed to meet the needs of corporate PR and IR professionals. CCNMatthews has been a news distribution leader in Canada for nearly a quarter of a century and we are proud to add such a strong U.S. service offering to our portfolio."

CCNMatthews clients will continue to receive the same exceptional customer service they have come to expect from us over the years, with the added benefit of accessing the largest integrated North American news distribution platform. The company will offer simultaneous disclosure in Canada and the U.S. and unparalleled media reach across North America and around the world. CCNMatthews will continue to service nearly 3,000 clients, including public and private companies, government, communication agencies, associations, unions and not-for-profit organizations.

"Today is a great day for our company," said Jim McGovern, president and CEO of Market Wire. "Our commitment of unparalleled value and exceptional service to our customers is further reinforced by this deal. We have long offered the best value in the U.S. newswire industry and now we are able to offer our clients markedly superior Canadian distribution as well. Ours is a perfect pairing with CCNMatthews. Two market leaders in innovation, global news distribution, and client service combining to create a true leader in the newswire industry," McGovern concluded.

With U.S. offices in New York City, Los Angeles, San Francisco, Chicago, Austin, Dallas and Washington D.C. (coming soon), and Canadian offices in Toronto, Montreal, Vancouver, Calgary and Ottawa, the combined company will have more than 200 employees, service over 6,000 clients and boast the largest media distribution footprint in North America.

Both companies will continue operating as they had prior to this acquisition with Market Wire, headquartered in Los Angeles, California, being led by current president and CEO Jim McGovern, and CCNMatthews, headquartered in Toronto, Canada, continuing under the leadership of president and CEO Michael Nowlan. McGovern will report to Nowlan.

Representatives from both companies cited strategic growth objectives as the primary reason for the transaction, and disclosed that CCNMatthews was acquiring 100% of Market Wire's stock in an all cash deal. The companies had been in discussions for several months.

About CCNMatthews

As news distribution experts, CCNMatthews focuses on delivering news and multimedia to the media and investment communities in Canada and around the world quickly and reliably. CCNMatthews is the only news release distributor to offer direct access to the CP Wire Network and the CP picture distribution wire across Canada. Incorporated in Canada in 1982, CCNMatthews delivers more public company press releases in Canada than any other newswire. The Company has approximately 3,000 clients across Canada including corporate, government, non-profit, union and association clients. For more, visit www.ccnmatthews.com.

About Market Wire

Market Wire, a CCNMatthews company, is the third largest newswire in the U.S. A full-service distributor of company press releases and financial news announcements, Market Wire offers the best value in the newswire industry, boasting the most secure, innovative, cost-effective, and comprehensive distribution of news with real-time news feeds to AP, Dow Jones, Bloomberg, Reuters, Yahoo!, MarketWatch, AOL, MSNBC, Motley Fool, Lexis-Nexis, Factiva and thousands of other leading websites, newswires, and databases. Market Wire's news is directly integrated into the editorial systems of hundreds of newspapers and broadcast outlets, and is also sent to more than 30,000 individual journalists. The Company has more than 3,000 clients. A full listing of the company's products and specific distribution points can be found at www.marketwire.com.

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