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Primedia shutting down Prezence after unsuccessful sale attempt

By Michelle Atagana

30 May 2014

It is official, Prezence Digital will shut its doors come June. Primedia Group has announced today that the award-winning digital agency has ceased taking on new business and "will start winding down its operations with effect from 1 June 2014".

Last month Memeburn reported that the group was looking to exit the business, which it bought from founder Tim Bishop, to a third party buyer. It seems the company has been unsuccessful.

According to a statement by the group it "was unable to conclude a suitable sale agreement that would adequately address the interests of all stakeholders, and as such has begun a structured shut down of operations."

Read the full article on memeburn.com/

Source: Memeburn

Launched in April 2010 by Matthew Buckland, Memeburn is a news and opinion platform tracking tech culture, innovation and business. It plays particular attention to the web, mobile, social media, online media and social networking fields. Key opinion-leaders contribute to Memeburn, providing their insights on the online industry. Subscribe via email or RSS for regular updates. Follow memeburn on Twitter at @memeburn.

Go to: http://www.memeburn.com