Submitted by Bob Burton on
The giant of the fake news business, Medialink Worldwide, has fallen out of favor with investors. In the last year the company's share price has plummeted from $5.81 to its current level around the $1.70 mark. In its latest annual report, the company glumly states that sales in 2007 in the U.S. from its "media communications services" -- which includes the production of video news releases (VNRs) and audio news releases (ANRs) -- dropped by 4.8% compared to 2006. The only upside was that revenue from fake news grew by 28% from its United Kingdom office. Despite this, the company recorded a net loss of just over $4.6 million on revenues of $33.4 million. Medialink notes that while Federal Communications Commission action enforcing on-air disclosure of the sponsors of VNRs and ANRs would not preclude their use, it "could have the effect of reducing the number of broadcasters that air our clients' material." The FCC acted in response to CMD's Stop Fake News campaign.