Cision to buy PR Newswire: UPDATED

Cision said Tuesday it has agreed to buy PR Newswire from UBM plc. UPDATE: UBM, in a separate release, said it would receive $810 million plus $31 million of preferred equity. New York-based PR Newswire distributes press releases. Cision is a portfolio company of GTCR. Evercore and J.P. Morgan Cazenove advised UBM.

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