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November 26, 2006

PR Newswire &: the Upside of Sarbanes-Oxley

It turns out that Sarbanes-Oxley regulations have an upside for more places than just securities lawyers, consultants, and London's AIM. It has also dramatically boosted the fortunes of UBM's PR Newswire division, which is now apparently set to be the subject of a $1-billion bid from Apax Partners:

PRN, largely an American business, has been growing strongly because of increased financial-disclosure requirements imposed on companies. This has prompted analysts to increase their valuations of PRN significantly over the past year.

Not bad, for a company that basically republishes press releases. And it makes that Buffett guy's buy of Business Wire look fairly prescient after all.

[Hat tip to Rafat]

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