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Business Wire was founded in the early 21st century by Warren Buffett.
Answer: False
Business Wire was founded in 1961 by Lorry I. Lokey, not in the early 21st century by Warren Buffett. Warren Buffett's Berkshire Hathaway later acquired the company.
Initially, Business Wire distributed press releases to only a handful of media outlets within California.
Answer: True
Upon its founding, Business Wire began by distributing press releases to a limited number of media outlets, specifically 16 outlets located within California.
Business Wire launched its official website in May 1995, marking its digital presence.
Answer: True
In May 1995, Business Wire established its digital footprint by launching its official website, businesswire.com, expanding its distribution capabilities.
Before launching its website, Business Wire relied solely on email for distributing press releases.
Answer: False
Before its website launch in 1995, Business Wire primarily used physical or electronic distribution methods to media outlets. Email was not the sole method used.
In what year was Business Wire founded, and by whom?
Answer: 1961 by Lorry I. Lokey
Business Wire was founded in 1961 by Lorry I. Lokey, an entrepreneur who recognized the need for efficient press release distribution.
What was the initial reach of Business Wire upon its founding?
Answer: It sent press releases to 16 media outlets located only in California.
Initially, Business Wire's operations were confined to California, where it distributed press releases to 16 media outlets.
Which significant technological milestone did Business Wire achieve in May 1995?
Answer: It launched its official website, businesswire.com.
In May 1995, Business Wire marked a significant technological advancement by launching its official website, businesswire.com, thereby expanding its digital reach.
Business Wire's first international operation was established in Asia in 2001.
Answer: False
Business Wire's first wholly owned international operation was established in London, United Kingdom, in 2001, not in Asia.
Business Wire established its Asian hub in Tokyo in 2005 and later added support for the Chinese language on its website.
Answer: False
While Business Wire did establish an Asian hub in Tokyo in 2005 and added Japanese language support, it did not add Chinese language support by that time. The website supported seven languages in total by 2005.
In November 2013, Business Wire opened a new office in Shanghai, China.
Answer: False
In November 2013, Business Wire opened a new office in Hong Kong, not Shanghai, China. This expansion further solidified its presence in the Asian market.
As of 2018, Business Wire operated over 50 locations globally.
Answer: False
As of 2018, Business Wire operated 29 locations worldwide, not over 50.
Business Wire's website supported only two languages by 2005.
Answer: False
By 2005, Business Wire's website supported a total of seven languages, including Japanese, following the establishment of its Asian hub.
Where did Business Wire establish its first wholly owned international operation in 2001?
Answer: London, United Kingdom
In 2001, Business Wire launched its first wholly owned international operation by opening an office in London, United Kingdom.
In which year did Business Wire establish its Asian hub in Tokyo?
Answer: 2005
Business Wire established its Asian hub by opening a bureau in Tokyo, Japan, in January 2005.
In which city did Business Wire open a new office in November 2013?
Answer: Hong Kong
Business Wire expanded its global presence by opening a new office in Hong Kong in November 2013.
As of 2018, how many locations did Business Wire operate worldwide?
Answer: 29
By 2018, Business Wire maintained a global presence with 29 operational locations worldwide.
How did Business Wire's website support global accessibility by 2005?
Answer: It was available in a total of seven languages, including Japanese.
By 2005, Business Wire's website had expanded its language support to a total of seven languages, including Japanese, enhancing its global accessibility.
Business Wire operates independently and has no ownership ties to larger corporations.
Answer: False
Business Wire is not independent; it operates as a wholly owned subsidiary of Berkshire Hathaway, a major conglomerate, indicating significant ownership ties.
Berkshire Hathaway acquired Business Wire in March 2006.
Answer: True
Berkshire Hathaway completed its acquisition of Business Wire on March 1, 2006, integrating the company into its portfolio.
Business Wire is classified as a conglomerate in its infobox.
Answer: False
Business Wire is classified as a subsidiary company in its infobox, indicating it is owned and controlled by a larger parent corporation, not as a conglomerate itself.
A subsidiary company, like Business Wire, has complete operational independence from its parent company.
Answer: False
A subsidiary company, by definition, is controlled by its parent company and does not possess complete operational independence. The parent company typically directs its management and strategy.
Business Wire operates as a subsidiary of which major conglomerate?
Answer: Berkshire Hathaway
Business Wire operates as a wholly owned subsidiary of Berkshire Hathaway, a diversified holding company led by Warren Buffett.
What acquisition was finalized in March 2006, integrating Business Wire into a larger conglomerate?
Answer: Acquisition by Berkshire Hathaway
Berkshire Hathaway finalized its acquisition of Business Wire in March 2006, incorporating it into its diverse portfolio of companies.
What does it mean for Business Wire to be a "wholly owned subsidiary"?
Answer: It is fully owned and controlled by another company, Berkshire Hathaway.
Being a 'wholly owned subsidiary' signifies that Business Wire is entirely owned and controlled by its parent company, Berkshire Hathaway, which holds 100% of its ownership.
The categorization of Business Wire under 'Service and Retailing Businesses' within the Berkshire Hathaway navbox suggests:
Answer: Berkshire Hathaway groups Business Wire with companies offering services or operating in retail.
The classification of Business Wire within the 'Service and Retailing Businesses' category in the Berkshire Hathaway navbox indicates that the conglomerate groups it with other companies that provide services or operate within the retail sector.
What is the primary difference between a subsidiary and a parent company?
Answer: A parent company is always larger and owns controlling interest in the subsidiary.
A parent company typically owns a controlling interest in a subsidiary, often more than 50% of its voting stock, thereby directing its management and operations. The parent is generally larger and holds significant influence.
Business Wire's primary function is to generate original news content for major media outlets.
Answer: False
Business Wire's core function is the dissemination of full-text press releases from companies, rather than the generation of original news content. Its role is to distribute information provided by its clients to a wide audience.
In 2008, Business Wire launched LatinoWire in partnership with ImpreMedia to reach the Hispanic demographic.
Answer: True
Business Wire partnered with ImpreMedia in 2008 to launch LatinoWire, a service specifically designed to distribute content to Hispanic media outlets and online platforms.
Business Wire patented a process in 2011 for improving the physical delivery speed of press releases.
Answer: False
The patent awarded to Business Wire in 2011 focused on optimizing press releases for search engine discoverability and trackability, not on improving the physical delivery speed.
The novelty of the patent awarded to Business Wire in 2011 was universally praised by industry experts.
Answer: False
The originality of the 2011 patent awarded to Business Wire was questioned by SEO expert Danny Sullivan, indicating that its novelty was not universally acclaimed within the industry.
Business Wire announced an exclusive distribution partnership with VentureBeat in September 2013.
Answer: True
In September 2013, Business Wire entered into an exclusive distribution partnership with VentureBeat, a prominent technology media company.
Business Wire launched a new service in January 2014 focused on enhancing news and content distribution.
Answer: True
In January 2014, Business Wire introduced a new service aimed at improving the distribution of news and content, likely incorporating technological advancements to better serve its clientele.
Business Wire distributes press releases exclusively to news media outlets.
Answer: False
Business Wire distributes press releases to a wide range of audiences, including news media, investors, financial markets, disclosure systems, and various online platforms, not exclusively to news media.
Business Wire's 2011 patent focused on improving the search engine optimization (SEO) of press releases.
Answer: True
The patent awarded to Business Wire in 2011 was for a process designed to optimize press releases for search engines, enhancing their discoverability and trackability online.
What is the primary function of Business Wire?
Answer: To disseminate full-text press releases from companies globally.
Business Wire's primary function is to distribute full-text press releases issued by corporations and organizations worldwide to a broad audience, including media, investors, and online platforms.
What was the name of the news distribution service launched by Business Wire in 2008 targeting the Hispanic market?
Answer: LatinoWire
In 2008, Business Wire partnered with ImpreMedia to launch LatinoWire, a specialized service aimed at distributing content to the Hispanic demographic.
What did Business Wire's 2011 patent focus on?
Answer: Optimizing press releases for search engine discoverability and trackability.
The patent awarded to Business Wire in 2011 concerned a technological process for optimizing and distributing press releases to improve their visibility and trackability within search engines.
Which SEO expert questioned the originality of Business Wire's 2011 patent?
Answer: Danny Sullivan
SEO expert Danny Sullivan raised questions regarding the originality of the patent that Business Wire received in 2011.
Business Wire announced an exclusive distribution partnership with which technology media company in September 2013?
Answer: VentureBeat
In September 2013, Business Wire announced an exclusive distribution partnership with VentureBeat, a company focused on technology media.
Which of the following is NOT listed as an audience for Business Wire's press release distribution?
Answer: Competitors' internal R&D departments
Business Wire distributes press releases to a broad range of audiences including news media, investors, and social networks. However, distribution to competitors' internal R&D departments is not a stated primary audience.
The term 'disseminate' in the context of Business Wire's function means:
Answer: To distribute information widely.
In the context of Business Wire's operations, 'disseminate' refers to the act of distributing information widely and broadly to various recipients.
In 2000, Business Wire adopted a policy to give financial outlets exclusive news access 15 minutes before the general public.
Answer: False
In 2000, Business Wire ceased its practice of providing financial outlets with exclusive early access to news. This change aligned with the principles of fair disclosure mandated by regulations like Reg FD.
Business Wire established regulatory disclosure networks in Germany and France starting in 2005 to comply with the EU's Transparency Obligations Directive.
Answer: True
Starting in 2005, Business Wire established regulatory disclosure networks in Germany and France, among other European countries, in anticipation of and to facilitate compliance with the EU's Transparency Obligations Directive (TOD).
The French financial regulator, Autorité des marchés financiers, approved Business Wire in 2007 to operate as a Regulatory Disclosure Service.
Answer: True
In 2007, the Autorité des marchés financiers, France's financial regulator, officially approved Business Wire to function as a Regulatory Disclosure Service within France.
The expansion of Business Wire into European regulatory disclosure networks was primarily driven by the need to comply with German national regulations only.
Answer: False
The expansion into European regulatory disclosure networks was driven by the need to comply with broader EU regulations, such as the Transparency Obligations Directive (TOD), not solely German national regulations.
Reg FD, mentioned in relation to Business Wire's 2000 policy change, stands for Regulation for Fair Distribution.
Answer: False
Reg FD stands for Regulation Fair Disclosure, a U.S. Securities and Exchange Commission rule mandating simultaneous access to material information for all investors.
What change did Business Wire implement in its distribution policy in 2000?
Answer: It ceased giving financial outlets early access to news to ensure equal distribution.
In 2000, Business Wire discontinued its practice of providing financial outlets with a 15-minute exclusive window for news, ensuring equitable access for all audiences.
Why did Business Wire adjust its distribution policy in 2000?
Answer: To align with the U.S. Securities and Exchange Commission's Regulation Fair Disclosure (Reg FD).
The policy adjustment in 2000 was made to comply with the U.S. Securities and Exchange Commission's Regulation Fair Disclosure (Reg FD), which mandates simultaneous disclosure of material information to all investors.
What was the purpose of Business Wire establishing regulatory disclosure networks in Europe starting in 2005?
Answer: To facilitate compliance with the EU's Transparency Obligations Directive (TOD).
The establishment of regulatory disclosure networks in Europe starting in 2005 was intended to help companies comply with the EU's Transparency Obligations Directive (TOD), ensuring timely dissemination of financial information.
Which financial regulator approved Business Wire as a Regulatory Disclosure Service in France in 2007?
Answer: Autorité des marchés financiers (France)
The Autorité des marchés financiers, France's financial markets regulator, approved Business Wire in 2007 to operate as a Regulatory Disclosure Service within the country.
What does Reg FD mandate for companies?
Answer: Companies must ensure all investors have simultaneous access to material information.
Regulation Fair Disclosure (Reg FD) mandates that companies must ensure all investors receive material information simultaneously, preventing selective disclosure.
What was the significance of Business Wire establishing a disclosure network for companies listed on the Deutsche Boerse?
Answer: It helped companies comply with German regulatory announcement obligations.
Establishing a disclosure network for companies listed on the Deutsche Boerse enabled them to meet their regulatory announcement obligations within Germany and adhere to market disclosure requirements.
Cathy Baron Tamraz retired as CEO of Business Wire in April 2017 and was succeeded by Geff Scott.
Answer: True
Cathy Baron Tamraz retired from her role as CEO of Business Wire in April 2017, and Geff Scott assumed the position of CEO, succeeding her.
Geff Scott has been the CEO of Business Wire since its founding in 1961.
Answer: False
Geff Scott became CEO in April 2017. The company was founded in 1961 by Lorry I. Lokey.
Who served as the CEO and president of Business Wire until April 2017?
Answer: Cathy Baron Tamraz
Cathy Baron Tamraz held the positions of Chief Executive Officer and President of Business Wire until her retirement in April 2017.
Who succeeded Cathy Baron Tamraz as CEO of Business Wire in April 2017?
Answer: Geff Scott
Geff Scott assumed the role of CEO of Business Wire in April 2017, succeeding Cathy Baron Tamraz.
What is the role of a CFO (Chief Financial Officer), as exemplified by Geff Scott's previous position?
Answer: Overseeing the company's financial planning, risk management, and reporting.
A Chief Financial Officer (CFO) is responsible for managing a company's financial activities, including planning, risk management, and reporting. Geff Scott's prior role as CFO provided him with significant financial and operational expertise.