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Revision as of 17:18, 27 July 2007 by PNG crusade bot (talk | contribs) (Converted image to PNG format)(diff) ← Previous revision | Latest revision (diff) | Newer revision → (diff)Business Wire is a company that disseminates full-text news releases from thousands of companies and organizations worldwide to news media, financial markets, disclosure systems, investors, information web sites, databases and other audiences.
The company distributes news via its own electronic network, NX, developed by its in-house tech team and using XML/NewsML. It also has carriage agreements with major news agencies, including the Associated Press, Agence France-Presse, Bloomberg, Dow Jones, Reuters, Thomson One, and some 60 regional news agencies, to deliver content directly into their newsroom editorial systems.
Business Wire provides direct news feeds along with photo posting to Yahoo! Finance and other information web sites. It offers preset and fully customized RSS news feeds upon registration (which is free). In 2007, the company added social media networking "tags" to news releases for services including Digg, del.icio.us, Newsvine and Reddit.
The company's EON: Enhanced Online News service provides a platform for news announcements utilizing a variety of Web 2.0 technologies, with search engine optimization features, social media tags to encourage online sharing of news, and interactive multimedia.
Working with stock markets and regulatory authorities, Business Wire is an authorized disclosure vehicle in the US and Canada (with news networks, EDGAR filings and SEDAR filings), the UK (with Financial Securities Authority-sanctioned (FSA) services), France (with Autorité des Marchés Financiers-sanctioned (AMF) services) and other European markets including Germany, Ireland, Luxembourg, the Netherlands, Sweden and Switzerland.
In 2007, Business Wire established a pan-European disclosure service designed around the European Union's Transparency Obligations Directive (TOD) requirements. In addition to fulfilling financial disclosure requirements, Business Wire posts full-text news releases directly into major professional and individual investor systems.
Journalists can set up personal web, RSS and email news feeds based on their specific beat criteria.
History
Business Wire was founded on October 2, 1961 by its current chairman, Lorry I. Lokey. Cathy Baron Tamraz is CEO and president. In 2006, the company has about 500 employees.
Business Wire was the first service of its type to put its clients' news online, launching the company's website in May 1995.
On January 17, 2006, Berkshire Hathaway announced that it was purchasing Business Wire for an undisclosed amount..
The acquisition of Business Wire by Berkshire Hathaway was completed on March 1, 2006.
On September 27, 2006, Business Wire and Vocus, Inc. (NASDAQ:VOCS), announced the two companies entered into a strategic partnership in which Business Wire would use a private label version of Vocus’ PRWeb press release distribution platform to provide a new search engine optimized (SEO) and social media distribution service. The platform is called EON:Enhanced Online News.
Notable Events
On November 1, 2005 the SEC filed suit against an Estonian trading firm, Lohmus Haavel & Viisemann (Lohmus) for illicit trading conducted as a result of financial information garnered by accessing more than 360 press releases on behalf of over 200 public companies from the Business Wire website ]. The releases were accessed via Business Wire's website during the 10 month period between January and November, 2005. Business Wire Chairman, Lorry Lokey issued a statement ] that no releases had been accessed prior to distribution, although employees of the Estonian firm, Oliver Peek and Kristjan Lepik had gathered $7.8 million in illegal profits during that time.
External links
- Business Wire - main site
- Smart News Releases - Photos & Multimedia
- EON: Enhanced Online News
- Tradeshownews.com
- EntertainmentWire
- EDGARit: EDGAR Filings
- CoreFiling: XBRL Reporting Tools
- IR Resource Center
- CNN coverage of Estonian hacking scheme
- SEC suit filed against Estonian firm
- Hispanic PR Wire Business Wire's U.S. Hispanic News Distribution Partner
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