Recently came across this interview with Kevin Carr with www.intlnewsmedia.com, the parent company of a multi-faceted online media outlet. Keeping SEO in mind, he discusses online media, press release distribution (including how to become a trusted news media source by the search engines), and the size of the firms his company targets in three different segments. The segment on press releses and articles also discusses effective use and the necessity of blogs.
http://www.seoradio.com/20060725-kevin-carr-international-news-media.html
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