What is the primary function of Business Wire?

Business Wire is an American company whose primary function is to disseminate full-text press releases. These releases originate from thousands of companies and organizations worldwide and are distributed to a wide array of recipients, including news media, financial markets, disclosure systems, investors, and various online platforms and social networks.

What is the corporate structure of Business Wire?

Business Wire operates as a wholly owned subsidiary of Berkshire Hathaway. This means it is fully controlled by its parent company, Berkshire Hathaway, which is a large conglomerate.

Where is Business Wire headquartered?

Business Wire is headquartered at 101 California Street in San Francisco, California, in the United States.

When was Business Wire established, and who was its founder?

Business Wire was founded in 1961 by Lorry I. Lokey. Lokey was an entrepreneur who recognized the need for efficient news distribution.

What was the initial scope of Business Wire's operations when it was founded?

Initially, Business Wire began by sending press releases to 16 media outlets located in California, establishing its early presence in the state.

What significant technological milestone did Business Wire achieve in May 1995?

In May 1995, Business Wire launched its official website, marking its entry into the digital distribution space and expanding its reach beyond traditional media.

How did Business Wire's distribution policy change in the year 2000, and what was the rationale behind this change?

In 2000, Business Wire ended its practice of distributing news to financial outlets 15 minutes before making it available to others. This adjustment was made to provide immediate and equal access to company information for all audiences, a move that aligned with the U.S. Securities and Exchange Commission's Regulation Fair Disclosure (Reg FD), which aims for fair information dissemination.

When and where did Business Wire establish its first international operation?

Business Wire launched its first wholly owned European operation in 2001 with the opening of an office in London, signaling its expansion into global markets.

How did Business Wire expand its regulatory disclosure services in Europe starting in 2005?

Starting in June 2005, Business Wire entered the German market with a disclosure network for companies listed on the Deutsche Boerse, ensuring compliance with Germany's national securities regulator, BaFin. By September 2005, it had established similar regulatory disclosure networks in France, Sweden, Switzerland, and Luxembourg, anticipating the EU's Transparency Obligations Directive (TOD).

What recognition did Business Wire receive from the French financial regulator?

On January 1, 2007, the Autorité des marchés financiers, France's financial markets regulator, approved Business Wire to operate as a Regulatory Disclosure Service within France, allowing it to distribute official financial announcements.

When did Business Wire establish a presence in Asia, and what languages did its website support?

Business Wire established an Asian hub by opening a bureau in Tokyo, Japan, on January 10, 2005. Later that year, it added Japanese language support, bringing the total number of languages its website supported to seven, enhancing its accessibility in key global markets.

Which major corporation acquired Business Wire, and when was this acquisition finalized?

Berkshire Hathaway announced its intention to purchase Business Wire on January 17, 2006, and the acquisition was completed on March 1, 2006. This acquisition integrated Business Wire into Warren Buffett's extensive portfolio of companies.

What initiative did Business Wire launch in 2008 to target a specific demographic?

In 2008, Business Wire partnered with ImpreMedia to launch LatinoWire, a news distribution service designed to deliver brand content to Hispanic websites, media outlets, journalists, and bloggers, thereby reaching a significant demographic.

What technological innovation did Business Wire patent in 2011?

Business Wire received a patent in 2011 for a technological process focused on optimizing and distributing press releases to enhance their discoverability and trackability in major search engines. This innovation aimed to improve the online visibility of its clients' news.

Was the patent awarded to Business Wire in 2011 universally accepted?

The originality of the patent awarded to Business Wire in 2011 was questioned by SEO expert Danny Sullivan, indicating some debate surrounding its novelty within the industry.

What strategic partnership did Business Wire announce in September 2013?

On September 23, 2013, Business Wire announced an exclusive distribution partnership with VentureBeat, a technology media company, to enhance content reach.

Where did Business Wire open a new office in November 2013?

Business Wire opened an office in Hong Kong on November 3, 2013, further expanding its presence in the Asian market.

What type of service did Business Wire launch in January 2014?

In January 2014, Business Wire launched a new service aimed at enhancing news and content distribution, likely incorporating new technologies or features to improve client communications.

Who was the CEO and president of Business Wire until April 2017, and who succeeded them?

Cathy Baron Tamraz served as the chief executive officer and president of Business Wire until her retirement in April 2017. She was succeeded by Geff Scott, who had previously served as the company's Chief Financial Officer (CFO).

What is the official website address for Business Wire?

The official website for Business Wire can be accessed at businesswire.com. This site serves as the primary portal for their services and company information.

What is the company type of Business Wire as indicated in its infobox?

According to its infobox, Business Wire is classified as a subsidiary company. This means it is owned and controlled by another, larger corporation.

Who is listed as the current CEO of Business Wire?

Geff Scott is listed as the current CEO of Business Wire. He took over the role in April 2017.

What was the number of locations Business Wire operated as of 2018?

As of 2018, Business Wire had 29 locations worldwide, indicating a significant global operational footprint.

What is the relationship between Business Wire and Berkshire Hathaway?

Business Wire is a wholly owned subsidiary of Berkshire Hathaway. This means Berkshire Hathaway owns 100% of the company, integrating it into its vast conglomerate structure.

What was the purpose of Business Wire's expansion into regulatory disclosure networks in Europe?

The establishment of regulatory disclosure networks in countries like Germany, France, Sweden, Switzerland, and Luxembourg was done in anticipation of the implementation of the EU's Transparency Obligations Directive (TOD). This ensured that companies could comply with financial regulations and provide timely information to investors and authorities.

How did Business Wire's website evolve regarding language support?

Business Wire's website expanded its language support over time. By January 2005, after establishing its Asian hub in Tokyo, it added Japanese and made the site available in a total of seven languages, enhancing its global accessibility.

What is mentioned in the 'See also' section of the Business Wire article?

The 'See also' section of the Business Wire article lists 'List of press release agencies' as a related topic. This provides context within the broader industry of news distribution services.

What was the initial distribution method Business Wire used before launching its website?

Before launching its website in 1995, Business Wire primarily distributed press releases by sending them physically or electronically to media outlets. Its operations began by serving 16 media outlets in California.

What does the acronym Reg FD refer to in the context of Business Wire's policy change in 2000?

Reg FD refers to the U.S. Securities and Exchange Commission's Regulation Fair Disclosure. This regulation mandates that companies provide all investors with simultaneous access to material information, a principle Business Wire aligned with by ending its tiered release system.

What specific market did Business Wire enter in Germany in 2005?

In June 2005, Business Wire entered the German Ad-Hoc market by establishing a disclosure network for companies with primary or secondary listings on the Deutsche Boerse. This service helped these companies meet their regulatory announcement obligations.

What was the name of the news distribution service launched by Business Wire in partnership with ImpreMedia?

The news distribution service launched in 2008 by Business Wire in partnership with ImpreMedia was called LatinoWire. This service focused on distributing content to Hispanic media and online platforms.

What specific aspect of press release distribution did Business Wire's 2011 patent address?

The 2011 patent awarded to Business Wire addressed the technological process of optimizing and distributing press releases to maximize their visibility and trackability within leading search engines. This innovation aimed to improve the effectiveness of online press releases.

Was the patent awarded to Business Wire in 2011 universally accepted?

The originality of the patent awarded to Business Wire in 2011 was questioned by SEO expert Danny Sullivan. This suggests that while the patent was granted, its unique contribution was subject to industry scrutiny.

What strategic partnership did Business Wire announce in September 2013?

On September 23, 2013, Business Wire announced an exclusive distribution partnership with VentureBeat, a technology media company. This partnership likely aimed to broaden the reach of VentureBeat's content.

Where did Business Wire open a new office in November 2013?

Business Wire opened an office in Hong Kong on November 3, 2013. This expansion further solidified its presence in key international markets.

What type of service did Business Wire launch in January 2014?

In January 2014, Business Wire launched a new service focused on enhancing news and content distribution. This initiative likely involved updates or new features to better serve its clients' communication needs.

Who was the CEO and president of Business Wire until April 2017, and who succeeded them?

Cathy Baron Tamraz served as the chief executive officer and president of Business Wire until her retirement in April 2017. She was succeeded by Geff Scott, who had previously served as the company's Chief Financial Officer (CFO), bringing his financial expertise to the leadership role.

What is the role of a subsidiary company, as exemplified by Business Wire?

A subsidiary company, like Business Wire, is a business entity that is owned or controlled by a larger parent company. In this case, Business Wire is fully owned by Berkshire Hathaway, which dictates its overall strategic direction and financial oversight.

What does the term 'disseminate' mean in the context of Business Wire's operations?

In the context of Business Wire's operations, 'disseminate' means to spread or distribute information widely. Specifically, Business Wire disseminates full-text press releases from its clients to a broad audience of media, financial markets, and other interested parties.

What is the significance of Business Wire distributing releases to 'financial markets' and 'disclosure systems'?

Distributing releases to financial markets and disclosure systems is crucial for companies to inform investors, regulators, and the public about significant news, which can impact stock prices and ensure compliance with financial reporting requirements. Business Wire acts as a vital conduit for this essential corporate communication.

What is a press release, and why is its distribution important for companies?

A press release is an official statement delivered to members of the news media for the purpose of providing information, making an announcement, or stating a position. Distributing them widely through services like Business Wire ensures that companies can effectively communicate important news, product launches, or corporate changes to the public and stakeholders.

What does it mean for a company to have 'primary or secondary listings on the Deutsche Boerse'?

Having primary or secondary listings on the Deutsche Boerse means that a company's shares are officially traded on the German stock exchange. Business Wire's service for these companies ensures their official announcements reach relevant financial audiences and comply with German market regulations.

What is the EU's Transparency Obligations Directive (TOD)?

The EU's Transparency Obligations Directive (TOD) is a piece of legislation designed to ensure that investors receive timely and accurate information about listed companies, particularly regarding significant corporate events and financial disclosures. Business Wire's establishment of disclosure networks helped companies comply with these EU requirements.

What is the purpose of a 'Regulatory Disclosure Service'?

A Regulatory Disclosure Service is a system or company authorized to distribute official announcements and financial information from companies to regulatory bodies and the public. This ensures compliance with legal and financial reporting standards, promoting market transparency.

What is the significance of Business Wire receiving a patent for press release optimization?

Receiving a patent for press release optimization signifies that Business Wire developed a unique and innovative method for improving how press releases are distributed and found online, particularly through search engines. This suggests a focus on enhancing the effectiveness and reach of their clients' communications in the digital age.

What is SEO, and why would a patent for press release optimization be relevant to it?

SEO stands for Search Engine Optimization, which is the practice of increasing the quantity and quality of traffic to a website through organic search engine results. A patent for optimizing press releases for search engines is directly relevant to SEO, as it aims to make these official company announcements more visible and accessible to users searching online for information.

What does it mean for a partnership to be 'exclusive'?

An exclusive partnership means that one party agrees not to engage in similar agreements with competitors of the other party. In the case of Business Wire and VentureBeat, an exclusive distribution partnership would mean Business Wire was the sole distributor for VentureBeat's content under that specific agreement.

What is the role of a CFO (Chief Financial Officer)?

A Chief Financial Officer (CFO) is a senior executive responsible for managing the financial actions of a company, including financial planning, risk management, record-keeping, and financial reporting. Geff Scott's background as CFO likely provided him with deep financial and operational knowledge before becoming CEO of Business Wire.

What is the significance of Business Wire being listed under 'Service and Retailing Businesses' within the Berkshire Hathaway navbox?

This categorization indicates that Business Wire, despite its core function of information dissemination, is grouped by Berkshire Hathaway alongside other companies that provide services or operate in retail sectors. This highlights its role within the broader service-oriented portfolio of the conglomerate.

What does the term 'conglomerate' mean in relation to Berkshire Hathaway?

A conglomerate is a large corporation formed by the merging of separate and diverse firms. Berkshire Hathaway is a prime example, owning a wide array of businesses across many different industries, including insurance, energy, railroads, manufacturing, and services like Business Wire.

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About Business Wire

Core Functionality

Business Wire is a distinguished American marketing and communications company specializing in the dissemination of full-text press releases. It serves as a critical conduit, distributing these announcements from a vast array of companies and organizations to a diverse audience. This audience includes news media outlets, financial markets, regulatory disclosure systems, investors, information websites, databases, bloggers, and social networks worldwide.

Corporate Identity

Established in 1961 by Lorry I. Lokey, Business Wire operates as a wholly owned subsidiary. Its headquarters are situated at 101 California Street in San Francisco, California, U.S. As of 2018, the company maintained a significant operational footprint with 29 locations globally. The current leadership includes Geff Scott, serving as Chief Executive Officer.

Parent Company

In a significant strategic development, Berkshire Hathaway announced its intention to acquire Business Wire in January 2006, completing the transaction on March 1, 2006. This acquisition integrated Business Wire into the expansive portfolio of Warren Buffett's conglomerate, underscoring its strategic importance in the information dissemination landscape.

Historical Trajectory

Foundational Years and Early Expansion

Business Wire was founded in 1961 by Lorry I. Lokey, commencing operations by distributing releases to 16 media outlets across California. The company embraced digital transformation early, launching its website in May 1995. A pivotal moment occurred in 2000 when, aligning with the SEC's Regulation FD (Fair Disclosure), Business Wire ceased its practice of providing a 15-minute exclusive window to financial outlets, thereby ensuring immediate and equitable access to company information for all audiences.

1961: Founded by Lorry I. Lokey.
1995: Launched its official website.
2000: Ended exclusive 15-minute pre-release distribution to financial media, ensuring equal access.

Global and Regulatory Advancements

The company's international presence expanded significantly in the early 2000s. The first wholly owned European operation was established in London in 2001. Further strategic moves included entering the German Ad-Hoc market in 2005 and establishing regulatory disclosure networks in France, Sweden, Switzerland, and Luxembourg, in anticipation of the EU's Transparency Obligations Directive. By 2007, the French Financial Markets Regulator had officially approved Business Wire as a Regulatory Disclosure Service. Concurrently, an Asian hub was established in Tokyo in 2005, with the site becoming available in Japanese.

2001: Opened its first European office in London.
2005: Launched operations in Germany and established regulatory disclosure networks in France, Sweden, Switzerland, and Luxembourg.
2007: Approved as a Regulatory Disclosure Service by the French Financial Markets Regulator.
2005: Established an Asian hub in Tokyo and introduced Japanese language support.

Strategic Partnerships and Innovation

In 2008, Business Wire partnered with ImpreMedia to launch LatinoWire, a specialized service targeting Hispanic media outlets. A notable technological advancement occurred in 2011 when Business Wire received a patent for its process of optimizing and tracking press releases for search engines, a development that garnered attention and some questioning from SEO experts. The company continued its expansion by opening an office in Hong Kong in 2013 and launching new news and content distribution enhancement services in 2014. In 2017, Geff Scott succeeded Cathy Baron Tamraz as CEO.

2008: Launched LatinoWire in partnership with ImpreMedia.
2011: Awarded a patent for press release SEO optimization technology.
2013: Opened an office in Hong Kong.
2014: Introduced new news and content distribution enhancement services.
2017: Geff Scott appointed CEO.

Core Services

Press Release Distribution

Business Wire's primary service involves the comprehensive distribution of press releases. This includes ensuring that official company announcements reach a wide array of targeted audiences, including news organizations, financial institutions, and regulatory bodies. The service is designed to maximize visibility and ensure compliance with disclosure requirements.

Market Intelligence and Disclosure

Beyond simple distribution, Business Wire plays a crucial role in facilitating market intelligence and regulatory disclosure. By providing timely and accurate dissemination of financial and corporate news, the company aids in market transparency and compliance with regulations such as the SEC's Regulation FD.

Global Reach and Targeting

With operations spanning numerous countries and languages, Business Wire offers unparalleled global reach. Its sophisticated network allows for targeted distribution, ensuring that press releases are delivered not only broadly but also to specific industries, regions, and media types relevant to the client's objectives.

Global Operations

International Presence

Business Wire has strategically established a robust international network to serve its global clientele. This network includes offices and distribution capabilities across North America, Europe, Asia, and other key regions, ensuring that companies can reach international markets effectively.

Multilingual Support

To facilitate communication across diverse markets, Business Wire offers its services in multiple languages. This multilingual capability is essential for companies operating in or targeting international audiences, ensuring that press releases are accurately translated and distributed in the local vernacular.

Regulatory Compliance

Operating across different jurisdictions requires adherence to various regulatory frameworks. Business Wire provides services designed to meet these specific disclosure and reporting requirements in different countries, assisting clients in maintaining compliance with local laws and financial market regulations.

Berkshire Hathaway Ownership

Strategic Acquisition

The acquisition of Business Wire by Berkshire Hathaway in 2006 marked a significant integration into one of the world's largest and most respected conglomerates. This move provided Business Wire with enhanced financial stability and strategic backing, allowing it to further invest in its infrastructure and global reach.

Synergies and Stability

As a subsidiary of Berkshire Hathaway, Business Wire benefits from the parent company's long-term investment philosophy and operational stability. This relationship ensures a continued focus on core business principles and service excellence, reinforcing its position as a trusted partner for corporate communications.

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References

A full list of references for this article are available at the Business Wire Wikipedia page

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This page has been generated by an Artificial Intelligence and is intended for informational and educational purposes exclusively. The content is derived from a snapshot of publicly available data and may not represent the most current or complete information available.

This is not professional advice. The information presented herein is not a substitute for professional consultation regarding business strategy, communications, financial markets, or legal compliance. Always consult with qualified professionals for specific guidance tailored to your needs.

The creators of this page are not liable for any inaccuracies, omissions, or actions taken based on the information provided.

The Pulse of Commerce

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About Business Wire 🏢

📢 Core Functionality

🏢 Corporate Identity

🤝 Parent Company

Historical Trajectory 📜

🚀 Foundational Years and Early Expansion

🌍 Global and Regulatory Advancements

📈 Strategic Partnerships and Innovation

Core Services 📢

📝 Press Release Distribution

📊 Market Intelligence and Disclosure

🌐 Global Reach and Targeting

Global Operations 🌍

📍 International Presence

🗣️ Multilingual Support

⚖️ Regulatory Compliance

Berkshire Hathaway Ownership 🤝

🏛️ Strategic Acquisition

🔗 Synergies and Stability

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About Business Wire

Core Functionality

Corporate Identity

Parent Company

Historical Trajectory

Foundational Years and Early Expansion

Global and Regulatory Advancements

Strategic Partnerships and Innovation

Core Services

Press Release Distribution

Market Intelligence and Disclosure

Global Reach and Targeting

Global Operations

International Presence

Multilingual Support

Regulatory Compliance

Berkshire Hathaway Ownership

Strategic Acquisition

Synergies and Stability

Teacher's Corner

True or False?

Test Your Knowledge!

Gamer's Corner

Discover other topics to study!

References

Feedback & Support

Disclaimer

Important Notice