United Business Media Makes Medialink Bid

Britain’s United Business Media, owner of PR Newswire, offered to buy corporate multimedia news content provider Medialink Worldwide Inc. for about $29 million, or $5 a share, in a deal that would boost its PR Newswire service.

Shares of Medialink surged on the news, closing up 99 cents, or 30%, to $4.34 on Nasdaq. The New York-based firm said it would review the offer but underlined that it was an independent company.

United Business, which also owns NOP World Market Research and does most of its business in the United States, said it would look at alternative steps if Medialink did not want to accept its offer.