Business Wire
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Business Wire
Subsidiary
Founded1961; 58 years ago (1961)
FounderLorry I. Lokey
Headquarters101 California Street, ,
United States
Number of locations
29 (2018)[1]
Key people
ParentBerkshire Hathaway
SubsidiariesTradeshownews.com
Websitewww.businesswire.com/ Edit this on Wikidata

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

Business Wire was founded in 1961[5] by Lorry I. Lokey. It started by sending releases to 16 media outlets in California.[6] Business Wire launched its 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.[7]

Business Wire's first wholly owned European operation launched in 2001, with the opening of an office in London.[8] 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.[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]

In April 2017, its Chief Executive Officer and President Cathy Baron Tamraz retired and was replaced by long time CFO Geff Scott.[15]

See also

References

  1. ^ "About Us". www.businesswire.com.
  2. ^ "Executive Committee - Business Wire Newsroom". newsroom.businesswire.com. Archived from the original on 2016-08-09. Retrieved .
  3. ^ Horgan, Richard (June 13, 2013). "Business Wire Pegs Press Release Costs Increase at 50%". Adweek. Retrieved 2017.
  4. ^ Conner, Cheryl (August 28, 2013). "Press Releases Still Matter, But Not For The Reasons You Think". Forbes. Retrieved 2017.
  5. ^ "Company Overview of Business Wire, Inc". Bloomberg Business. Retrieved 2015.
  6. ^ "Biography of Lorry I. Lokey, founder of Business Wire". Stanford Medicine News Service. February 27, 2007. Retrieved 2018.
  7. ^ McGuire, Craig (September 25, 2000). "15 minutes are up at Business Wire". PR Week. Retrieved 2017.
  8. ^ Williams, Holly; Londner, Robin (February 23, 2001). "Business Wire to launch own Euro office in London". PR Week. Retrieved 2017.
  9. ^ "Berkshire Hathaway Completes Acquisition of Business Wire". Business Wire. March 1, 2006. Retrieved 2017.
  10. ^ "Business Wire Launches 'LatinoWire' In Venture With ImpreMedia". Editor & Publisher. July 9, 2008. Retrieved 2017.
  11. ^ Sullivan, Danny (September 29, 2011). "Warren Buffet's Business Wire Awarded Patent for Press Release SEO". Search Engine Land. Retrieved 2017.
  12. ^ "Business Wire Comes on as New Partner". VentureBeat. September 23, 2013. Retrieved 2017.
  13. ^ "PSA: Business Wire Announces Opening of Hong Kong Full-Service Office". Bulldog Reporter. November 4, 2013. Retrieved 2017.
  14. ^ Bradley, Diana (January 14, 2014). "PSA: Business Wire Launches Interactive News Services". PRWeek. Retrieved 2017.
  15. ^ "Correction to Buffett's Lieutenants Article". Fox Business. May 8, 2017. Retrieved 2017.

External links


  This article uses material from the Wikipedia page available here. It is released under the Creative Commons Attribution-Share-Alike License 3.0.

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