Signaling a shift in strategic direction, Medialink, a leader in the video news release marketplace, Monday announced the sale of its press release distribution division to PR Newswire, a division of
United Business Media. Medialink said it would use proceeds from the sale - between $18 million and $23 million - to develop its global Teletrax video tracking service and to expand its broadband
video production and distribution capabilities. In recent years, Medialink has refocused its energies on new media platforms and on developing a new form of marketing communicates dubbed "narrative
marketing" that utilizes corporate videos as the basis of free news or entertainment content.