Business Wire is an American company that disseminates full-text
press release
A press release is an official statement delivered to members of the news media for the purpose of providing information, creating an official statement, or making an announcement directed for public release. Press releases are also considere ...
s from thousands of companies and organizations worldwide to
news media
The news media or news industry are forms of mass media that focus on delivering news to the general public or a target public. These include news agencies, print media (newspapers, news magazines), broadcast news (radio and television), and ...
, financial markets,
disclosure
Disclosure may refer to:
Arts and media
* ''Disclosure'' (The Gathering album), 2012
*Disclosure (band), a UK-based garage/electronic duo
* ''Disclosure'' (novel), 1994 novel written by Michael Crichton
** ''Disclosure'' (1994 film), an American ...
systems, investors, information web sites, databases, bloggers, social networks and other audiences. It is a
subsidiary of
Berkshire Hathaway
Berkshire Hathaway Inc. () is an American multinational conglomerate holding company headquartered in Omaha, Nebraska, United States. Its main business and source of capital is insurance, from which it invests the float (the retained premiu ...
.
History
Business Wire was founded in 1961
by
Lorry I. Lokey. It started by sending releases to 16 media outlets in California.
Business Wire launched its website in May 1995. In 2000, ahead of its main competitor
PR Newswire, Business Wire ended the practice of distributing news to financial outlets 15 minutes before anyone else, to provide immediate, equal access to company information as noted by the SEC's fair disclosure regulation (
Reg FD Regulation FD (Fair Disclosure),
Retrieved January 25, 2011. ordinarily referred to as Regula ...
).
Business Wire's first wholly owned European operation launched in 2001, with the opening of an office in London. On June 1, 2005, Business Wire entered the German Ad-Hoc market with a disclosure network for companies with primary or secondary listings on the Deutsche Boerse. The service was established in compliance with
BaFin
The Federal Financial Supervisory Authority (german: Bundesanstalt für Finanzdienstleistungsaufsicht, Bundesanstalt für Finanzdienstleistungsaufsicht) better known by its abbreviation BaFin is the financial regulatory authority for Germany. It ...
, Germany's national securities regulator. On September 15, 2005, Business Wire established Regulatory Disclosure networks in France, Sweden, Switzerland and Luxembourg. The move came in anticipation of the anticipated implementation of the EU's Transparency Obligations Directive (TOD). On January 1, 2007,
Autorité des marchés financiers, the French Financial Markets Regulator, approved Business Wire to operate as a Regulatory Disclosure Service in France.
On January 10, 2005, Business Wire established an Asian hub with the opening of its
Tokyo
Tokyo (; ja, 東京, , ), officially the Tokyo Metropolis ( ja, 東京都, label=none, ), is the capital and List of cities in Japan, largest city of Japan. Formerly known as Edo, its metropolitan area () is the most populous in the world, ...
,
Japan bureau, and later that year added
Japanese
Japanese may refer to:
* Something from or related to Japan, an island country in East Asia
* Japanese language, spoken mainly in Japan
* Japanese people, the ethnic group that identifies with Japan through ancestry or culture
** Japanese diaspor ...
, making the site available in seven languages. On January 17, 2006,
Berkshire Hathaway
Berkshire Hathaway Inc. () is an American multinational conglomerate holding company headquartered in Omaha, Nebraska, United States. Its main business and source of capital is insurance, from which it invests the float (the retained premiu ...
announced that it was purchasing Business Wire for an undisclosed amount. This acquisition was completed on March 1, 2006.
In 2008, Business Wire partnered with
ImpreMedia ImpreMedia, LLC is a media company headquartered on the 7th Floor of 15 MetroTech Center in Downtown Brooklyn, New York City.
ImpreMedia's products include Hispanic newspapers, websites, and magazines."Company Overview of ImpreMedia, LLC", Bloomb ...
to launch LatinoWire, a news distribution service that distributes brand content to Hispanic websites, media outlets, journalists and bloggers. In 2011, Business Wire received a patent for the technological process of optimizing and distributing press releases to maximize their ability to be found and tracked in leading
search engines.
The originality of the patent was questioned by SEO expert
Danny Sullivan
Daniel John Sullivan III (born March 9, 1950), better known as Danny Sullivan, is an American former racing driver. He earned 17 wins in the CART Indy Car World Series, including the 1985 Indianapolis 500. Sullivan won the 1988 CART Champions ...
.
On September 23, 2013, Business Wire announces exclusive distribution partnership with
VentureBeat
''VentureBeat'' is an American technology website headquartered in San Francisco, California. It publishes news, analysis, long-form features, interviews, and videos.
History
The ''VentureBeat'' company was founded in 2006 by Matt Marshall, ...
On November 3, 2013, Business Wire opened its office in
Hong Kong
Hong Kong ( (US) or (UK); , ), officially the Hong Kong Special Administrative Region of the People's Republic of China (abbr. Hong Kong SAR or HKSAR), is a city and special administrative region of China on the eastern Pearl River Delta i ...
.
In January 2014, Business Wire launched a new news and content distribution enhancement service.
In April 2017, its Chief Executive Officer and President Cathy Baron Tamraz retired and was replaced by long time CFO Geff Scott.
See also
*
List of press release agencies
This is a list of notable press release agencies. A press release is a written or recorded communication directed at members of the news media for the purpose of announcing something ostensibly newsworthy. Public relations is the practice of mana ...
References
External links
*
{{Berkshire Hathaway
1961 establishments in California
2006 mergers and acquisitions
Berkshire Hathaway
American companies established in 1961
Mass media companies established in 1961
Companies based in San Francisco
News agencies based in the United States
Press release agencies