PR Newswire acquires rights to Xinhua

China - Six years after its launch in Beijing, PR Newswire has acquired the full rights to Xinhua PR Newswire (XPRN) and Xinhua Finance's corporate announcement business in Hong Kong, Singapore and Taiwan.

Formerly a joint agreement between Xinhua Finance and PR Newswire, the agreement will include the integration of all management and operation of the corporate sponsored announcement distribution service to PR Newswire.

The acquisition will be signaled by a rebranding of the China service to PR Newswire China while operations in Hong Kong, Singapore and Taiwan will form PR Newswire Asia.

PR Newswire China is the country's largest corporate announcement distribution service and the expansion of PR Newswire's business in China is seen as a win for all parties.

The acquisition is expected to not only contribute the advantages of PR Newswire's established distribution network to China's business and media communities but also the promise of bolstering PR Newswire's global business.

Commenting on the acquisition, PR Newswire's chief executive officer, Charles Gregson, said merging with PR Newswire's global operations will allow the company to introduce new communications tools to China's business community, which will including broadcast and video services, ProfNet, media monitoring and EDGAR filing.