Business Wire
| Company type | Subsidiary |
|---|---|
| Industry | Press release distribution, News agency |
| Founded | 1961 |
| Founder | Lorry I. Lokey |
| Headquarters | San Francisco , United States |
Area served | Worldwide |
Key people | Geff Scott (CEO) |
| Owner | Berkshire Hathaway |
| Parent | Berkshire Hathaway |
Business Wire is a U.S.-based firm specializing in the distribution of comprehensive press release content from numerous organizations worldwide to a diverse audience including news outlets, financial markets, regulatory disclosure platforms, investors, websites, databases, bloggers, and social media channels. It functions as a fully owned subsidiary of Berkshire Hathaway.
History
Established in 1961 by entrepreneur Lorry I. Lokey, Business Wire initially circulated press releases to 16 media outlets within California. The company launched its online platform in 1995 and, by 2000, implemented a strategy aimed at delivering rapid and equitable access to corporate information in alignment with the SEC's fair disclosure rules (Reg FD), positioning itself ahead of rival PR Newswire.
The firm's international expansion began with the inauguration of its London office in 2001. By 2005, Business Wire had entered the German Ad-Hoc market through a disclosure network compliant with BaFin standards and developed Regulatory Disclosure systems across France, Sweden, Switzerland, and Luxembourg in anticipation of the EU Transparency Obligations Directive. In 2007, it received approval from the French regulatory authority as an official Regulatory Disclosure Service.
In the Asian market, Business Wire established a presence in Tokyo in 2005 and incorporated support for the Japanese language. On January 17, 2006, Berkshire Hathaway acquired Business Wire, finalizing the acquisition on March 1.
In 2008, the company collaborated with ImpreMedia to create LatinoWire, a platform aimed at Hispanic media and audiences. The organization obtained a patent in 2011 focused on enhancing press release distribution efficiency to improve search engine ranking—a reflection of its commitment to technological advancement despite some industry doubts.
Further strategic collaborations included an exclusive distribution partnership with VentureBeat in 2013 and the establishment of a Hong Kong office later that year to bolster its footprint in Asia-Pacific regions.
In 2014, Business Wire expanded its offerings by introducing interactive news services and content distribution tools featuring social media analytics.
Leadership changes occurred in April 2017 when CEO Cathy Baron Tamraz retired and was succeeded by longtime CFO Geff Scott, ensuring continuity in executive management.
See also
External links
- Articles with short description
- 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
- Companies of the United States by year of establishment
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