When will Nasdaq pull the plug on Marketwired

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By Ted Liu

At CPE Media Inc., our daily news and information research is to scour and read news from all the news release providers, pick up news of interest for our readers and data for our industry leading all private capital dealbase.

Ever since the acquisition of Marketwired by Nasdaq, Inc. (NASDAQ: NDAQ) in February 2016, we have observed that the number of news release posted by Marketwired has been in steady decline. Majority of the news releases have been shifted and picked by Nasdaq’s own GlobeNewWire.

As of 5:00PM EDT March 19, 2018, twelve news releases were posted on MarketWired. In comparison, 255 news releases were posted on March 20, 2017.

Question is how long will Nasdaq keep Marketwired running.

Missed the details of the acquisition of Marketwired by Nasdaq from OMERS Private Equity?

[mepr-active rule=”374″ ifallowed=”hide”]#SUBSCRIBERS ONLY CONTENT Where and how did you get your news? Subscribe today to see our research on this and all other subscriber ONLY news. See what you have been missing and be informed!#[/mepr-active][mepr-active rule=”374″]“In February 2016, we acquired Marketwired for US $111 million ($109 million in cash paid plus $2 million in working capital adjustments). We acquired net liabilities, at fair value, totaling $1 million and recorded a deferred tax liability of $10 million related to differences in the U.S. GAAP and tax basis of our investment in Marketwired. In the second quarter of 2016, we recorded a measurement period adjustment of $5 million to the estimated fair value of deferred tax liabilities to reflect a revised assessment following the receipt of new information. The adjustment resulted in a decrease to both deferred tax liabilities recorded and goodwill. The adjustment did not result in an impact to our Consolidated Statements of Income. Marketwired is part of our Corporate Solutions business within our Corporate Services segment.” – Nasdaq financial report.

Nasdaq fund the acquisition with US $109 million borrowed under its revolving credit commitment of the 2014 credit facility.[/mepr-active]

photo credit: Marketwired