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Medialink To Launch One-Stop News Portal

Medialink announced Friday it is building a one-stop Internet service that will deliver corporate, business and consumer news to global news sites.

The new service will be launched in the U.S. and the UK in the autumn this year, says Medialink. It will carry press releases, streaming audio and video, live Webcasts, photographs, corporate graphics and logos, and financial information -- the whole spectrum of digital communications -- to more than 6,000 news sites.

"Internet news sites are in a highly competitive environment as they aim to attract as many eyeballs as possible," said Laurence Moskowitz, Medialink's president and CEO. "Medialink.com will assist them in creating richer, more compelling and more detailed sites."

Medialink has assembled a team to build and maintain the new media platform, making a substantial investment in the project. It has named its top-level senior staff -- including former network newsman Nicholas Peters who leads the team -- and it will be naming more executives shortly.

Medialink's chief financial officer J. Graeme McWhirter said that the company was not anticipating significant revenues from the Medialink.com service during 1999 due to the autumn launch.

"We anticipate incremental revenues of $2.5 million for the fiscal year 2000, rising to more than $15 million in 2002," said McWhirter. He added that the service was expected to be profitable by fiscal 2001.