News blog

Upstream Marketing and Communications Inc

  • BY: Andrew Hore |
  • POSTED: 06/05/2008 |

Upstream Marketing and Communications is selling its news release distribution business. 

The Asian marketing services provider’s subsidiary, Media Services, is being sold for $350,000, which is similar to its 2007 operating profit. Marketwire, which started as a partner, is acquiring the business. Upstream has agreed not to compete in the news wire market.

Upstream will book a gain on disposal of $330,000, which will be shown in the 2008 figures.

At the end of March, Upstream said that its 2007 revenues will be in excess of $4m, 50% up on the previous year. It reported an interim loss on revenues of $1.99m in September 2007. The full year results are due to be announced on 26 May.

At 3.375p, Upstream is valued at £4.64m.

© 2024 Aim Micro. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

Browse by issue
All issues
Popular tags
All tags

betbrokers, financial, gold, health, leisure, media, mobile, resources, services, technology

AIM Micro feeds

Keep up to date with articles published at AIMMicro.com. Subscribe to AIM Micro RSS Feeds