UBM buys Canadian Newswire

British business publisher UBM yesterday said it was paying £30.1m for the Press Association (PA)’s 50 per cent stake in news organisation Canada Newswire (CNW). The deal gives UBM control of the group as it adds to its 17 per cent stake in the company. UBM will now integrate CNW with its newswire division, PR Newswire. The deal will also see David Levin, UBM’s chief, join PA’s board.