Business Wire source: en.wikipedia.org/wiki/Business_Wire

Business Wire
Subsidiary
Founded 1961; 56 years ago (1961)
Founder Lorry I. Lokey
Headquarters 101 California Street, San Francisco, California, United States
Number of locations
 32 (2016)[1]
Key people
 Geff Scott (CEO)
Richard DeLeo (COO)[2]
Parent Berkshire Hathaway
Subsidiaries Enhanced Online News
BizWire TV
Tradeshownews.com
Website www.businesswire.com

Business Wire 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.[3][4] It is a subsidiary of Berkshire Hathaway.

History[edit]

Business Wire was founded in 1961[5] by Lorry I. Lokey, it launched its 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.[6]

Business Wire's first wholly owned European operation launched in 2001, with the opening of an office in London.[7] 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.

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.[8] In April 2017, its Chief Executive Officer and President Cathy Baron Tamraz retired and was replaced by long time CFO Geff Scott.[9]

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.[10] 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.[11]

On September 23, 2013, Business Wire announces exclusive distribution partnership with VentureBeat [12] On November 3, 2013, Business Wire opened its 32nd office in Hong Kong.[13]

In January 2014, Business Wire launched a new news and content distribution enhancement service.[14]

See also[edit]

References[edit]

  1. ^ "About Us". www.businesswire.com. 
  2. ^ "Executive Committee - Business Wire Newsroom". newsroom.businesswire.com. 
  3. ^ Horgan, Richard (June 13, 2013). "Business Wire Pegs Press Release Costs Increase at 50%". Adweek. Retrieved January 7, 2017. 
  4. ^ Conner, Cheryl (August 28, 2013). "Press Releases Still Matter, But Not For The Reasons You Think". Forbes. Retrieved January 7, 2017. 
  5. ^ "Company Overview of Business Wire, Inc.". Bloomberg Business. Retrieved September 15, 2015. 
  6. ^ McGuire, Craig (September 25, 2000). "15 minutes are up at Business Wire". PR Week. Retrieved January 7, 2017. 
  7. ^ Williams, Holly; Londner, Robin (February 23, 2001). "Business Wire to launch own Euro office in London". PR Week. Retrieved January 7, 2017. 
  8. ^ "Berkshire Hathaway Completes Acquisition of Business Wire". Business Wire. March 1, 2006. Retrieved January 7, 2017. 
  9. ^ "Correction to Buffett's Lieutenants Article". Fox Business. May 8, 2017. Retrieved October 2, 2017. 
  10. ^ "Business Wire Launches 'LatinoWire' In Venture With ImpreMedia". Editor & Publisher. July 9, 2008. Retrieved January 7, 2017. 
  11. ^ Sullivan, Danny (September 29, 2011). "Warren Buffet's Business Wire Awarded Patent for Press Release SEO". Search Engine Land. Retrieved January 7, 2017. 
  12. ^ "Business Wire Comes on as New Partner". VentureBeat. September 23, 2013. Retrieved January 7, 2017. 
  13. ^ "PSA: Business Wire Announces Opening of Hong Kong Full-Service Office". Bulldog Reporter. November 4, 2013. Retrieved January 7, 2017. 
  14. ^ Bradley, Diana (January 14, 2014). "PSA: Business Wire Launches Interactive News Services". PRWeek. Retrieved January 7, 2017. 

External links[edit]