Newstream.com was a 50:50 joint venture between Medialink Worldwide and Business Wire to provide "free multimedia news from the world's leading corporations and agencies" to more than "11,000 online news and information Web sites that increasingly need streaming video, audio, presentations, and graphics to be competitive". 
Newstream.com's website banner states "Multimedia News for the 21st Century Newsroom Free Content for Journalists Producers & Editors".
On its website Newstream.com states that it is "staffed by on-line news veterans" that are "dedicated to providing registered journalists with compelling and timely video, audio, photos, graphics and text from newsmakers in the fields of Technology, Science, Health & Medicine, Business & Finance, Entertainment, Consumer News, Sports, Lifestyles, Travel & Tourism and World and Government News."
"We provide this free content in a format that is "web-ready" (GIFs, JPGs, Streaming Video, etc.), saving you time and effort in building your on-line news stories," it states.
On its website Newstream poses "May I edit the text?" as a frequently asked question. "Yes, of course - as needed to work with your other editorial and space requirements. We assume that you will not deliberately distort the material, which is the only kind of 'editing' that we would discourage," it states.
As to whether material that is used in web newsites has to be credited Newstream.com is ambivalent. "You are not required to give us credit, though we certainly welcome it and encourage you to leave our datelines in the stories. It gives your users an indication of the source of the material. But it's up to you," it states. 
In its 2003 Annual Report to the U.S. Securities and Exchange Commission Medialink stated that "The number of registered journalists stood at more than 13,000 as of December 2003. More than 13,000 professional communicators and more than 4,000 financial analysts were registered on Newstream.com in 2003. Registration among the general public was recorded at more than 35,000 by December 2003".
"Clients utilizing Newstream.com include 20th Cebtury Fox, American Express, AOL/TimeWarner, Ericcson and General Motors," it states. 
In its 2004 Annual Report filed with the U.S. Securities and Exchange Commission, Medialink reported that on December 31, 2004, Newstream "was dissolved". "In accordance with the dissolution agreement, the Company is permitted and intends to provide Newstream services to its client base under the Newstream name, for the next twelve months. Subsequently, Medialink anticipates providing these services under a different service name," the annual report stated.
Other SourceWatch resources
- Medialink Worldwide, "Annual Report for the fiscal year ended December 31, 2003", U.S. Securities and Exchange Commission, March 26, 2004.