Nasdaq to Acquire PrimeZone Media

Nasdaq Stock Market Inc. said Monday that it had agreed to buy PrimeZone Media Network, a privately held publisher of corporate news releases, for an undisclosed price.

Nasdaq said it planned to integrate Los Angeles-based PrimeZone’s information distribution, investor relations and multimedia services into the product range offered by its corporate client group.

Nasdaq bought Shareholder.com, an investor relations service provider, in the first quarter.

The purchase is the second of a major U.S. news release distributor this year.

On March 1, Berkshire Hathaway Inc., the insurance and investment company controlled by billionaire Warren E. Buffett, said it completed its acquisition of Business Wire for an undisclosed price.

Founded in 1998, PrimeZone said it distributed information to more than 1,700 daily newspapers, 3,500 Internet sites and about 1.5 million financial desktops. It also distributes press releases to news and information providers such as Reuters, the Associated Press, Bloomberg News and Dow Jones Newswires.