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Business Wire

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Business Wire
Company typewholly owned subsidiary
Founded1961; 63 years ago (1961)
FounderLorry I. Lokey
Headquarters101 California Street
San Francisco
ParentBerkshire Hathaway

Business Wire, a Berkshire Hathaway subsidiary, is a company that disseminates full-text press releases from thousands of companies and organizations worldwide to news media, financial markets, disclosure systems, investors, information web sites, databases, bloggers, social networks and other audiences.

History

Business Wire was founded in 1961,[1] by Lorry I. Lokey.

It launched the company's website in May 1995. In 2000, Business Wire was the first commercial newswire to end the practice of distributing news to financial outlets 15-minutes before anyone else, to provide immediate, equal access to company information as noted by Reg FD.[2]

Business Wire's first wholly owned European operation launched in 2001, with the opening of an office in London.[3] 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, 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.

Since 2005, its Chief Executive Officer and President has been Cathy Baron Tamraz.[1] On January 10, 2005, Business Wire established an Asian hub with the opening of its Tokyo, Japan bureau, and later that year added Japanese, making the site available in seven languages. On January 17, 2006, Berkshire Hathaway announced that it was purchasing Business Wire for an undisclosed amount. This acquisition was completed on March 1, 2006.[4]

In 2008, Business Wire partnered with ImpreMedia to launch LatinoWire, a news distribution service that distributes brand content to Hispanic websites, media outlets, journalists and bloggers.[5] 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.[6]

On September 23, 2013, Business Wire announces exclusive distribution partnership with VentureBeat [7] On November 3, 2013, Business Wire opened its 32nd office in Hong Kong.[8]

In January 2014, Business Wire launched a new news and content distribution enhancement service.[9]

References

  1. ^ a b "Company Overview of Business Wire, Inc". Bloomberg Business. Retrieved September 15, 2015.
  2. ^ "15 minutes are up at Business Wire". PR Week. September 25, 2000.
  3. ^ "Business Wire to launch own Euro office in London". PR Week. February 23, 2001.
  4. ^ "Berkshire Hathaway Completes Acquisition of Business Wire". Business Wire.
  5. ^ "Business Wire Launches 'LatinoWire' In Venture With ImpreMedia". Editor and Publisher.
  6. ^ "Warren Buffet's Business Wire Awarded Patent for Press Release SEO". SearchEngineLand.
  7. ^ "Business Wire Comes on as New Partner". VentureBeat.
  8. ^ "PSA: Business Wire Announces Opening of Hong Kong Full-Service Office". BulldogReporter.
  9. ^ "PSA: Business Wire Launches Interactive News Services". PRWeek.
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