The Press Association has acquired Globelynx, the fixed-camera network which enables corporate executives, financial analysts and commentators to be interviewed on TV news programmes from their offices.
The acquisition of Globelynx, whose network is widely used by the BBC, Sky News, ITN, Bloomberg, CNBC, Reuters and many of the world’s major broadcasters, marks the latest move in PA’s strategy of diversifying its core news and information business into corporate markets, and adding value to its existing services for media customers. Under the terms of the deal announced today, PA is immediately acquiring 50% of Globelynx and will acquire the remaining 50% over the next four years.
Globelynx, which was founded in 2001, has a growing number of blue-chip corporate customers across financial services, media, and industrial companies. The network carries over 6,000 live interviews a year and has grown rapidly in recent years as a result of increased interest in financial and business TV coverage.
Interviews are conducted via self-operated fixed cameras, located in offices and dealing rooms, which are connected to TV networks via Globelynx’ master control room and fibre network. Broadcasters can book interviews up to a few minutes before going on air – without the inconvenience or cost of using outside broadcast facilities, or transporting interviewees to a TV studio. Globelynx also enables corporate executives and spokespeople to be interviewed on live TV without leaving their offices.
Clive Marshall, Chief Executive of PA Group, commented: “Globelynx is a fantastic business which provides an invaluable service connecting spokespeople with news broadcasters. The explosion in 24 hour news channels has created a huge demand for live comment, a demand which Globelynx, with PA’s support, is ideally placed to capitalise on.”