UBM has sold PR Newswire to Cision for $841m (£551m).

UBMUBM, which is looking to focus on its events operation, said it proposes to return £245m to shareholders following the deal. Cision, which is controlled by US private equity group GTCR, acquired media monitoring group Gorkana from private equity group Exponent for £200m last year.

For the full story read The Guardian

and for the press release on PRNewswire click here