{{short description|American marketing/communications company}} {{Infobox company | name = Business Wire | logo = BusinessWire Logo.svg | type = Subsidiary | foundation = {{Start date and age|1961}} | founder = Lorry I. Lokey | key_people = {{unbulleted list|Geff Scott (CEO)<ref>{{cite web|url=http://newsroom.businesswire.com/executive_committee|title=Executive Committee – Business Wire Newsroom|website=newsroom.businesswire.com|access-date=2016-08-04|archive-url=https://web.archive.org/web/20160809153104/http://newsroom.businesswire.com/executive_committee|archive-date=2016-08-09|url-status=dead}}</ref>}} | location = 101 California Street | location_city = San Francisco, California | location_country = U.S. | locations = 29 (2018)<ref>{{cite web|url=http://www.businesswire.com/portal/site/home/about/|title=About Us|website=businesswire.com}}</ref> | owner = | parent = Berkshire Hathaway | website = {{URL|businesswire.com}} }}
'''Business Wire''' is an American 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.<ref>{{cite web|url=http://www.adweek.com/fishbowlny/how-much-does-press-release-cost-business-wire-2013/199683|title=Business Wire Pegs Press Release Costs Increase at 50%|date=June 13, 2013|first=Richard|last=Horgan|work=Adweek|access-date=January 7, 2017}}</ref><ref>{{cite web|url=https://www.forbes.com/sites/cherylsnappconner/2013/08/28/do-press-releases-still-matter-yes-but-not-like-you-think/#51462db8938d|work=Forbes|first=Cheryl|last=Conner|date=August 28, 2013|title=Press Releases Still Matter, But Not For The Reasons You Think|access-date=January 7, 2017}}</ref> It is a wholly owned subsidiary of Berkshire Hathaway.
==History== Business Wire was founded in 1961<ref name="bloomberg">{{cite web|title=Company Overview of Business Wire, Inc. |url=https://www.bloomberg.com/research/stocks/private/snapshot.asp?privcapId=1010108 |website=Bloomberg Business |access-date=September 15, 2015}}</ref> by Lorry I. Lokey. It started by sending releases to 16 media outlets in California.<ref name="stanford">{{cite web |url=https://med.stanford.edu/news/all-news/2007/02/biography-of-lorry-i-lokey-founder-of-business-wire.html |title=Biography of Lorry I. Lokey, founder of Business Wire |publisher=Stanford Medicine News Service |date=February 27, 2007 |access-date=February 13, 2018}}</ref> Business Wire launched its website in May 1995.<ref>{{cite web|url=https://www.businesswire.com/blog/business-wire-celebrates-60-years-of-innovation|title=Business Wire Celebrates 60 Years of Innovation|website=www.businesswire.com|access-date=March 16, 2025}}</ref> In 2000, ahead of its main competitor PR Newswire, Business Wire ended the practice of distributing news to financial outlets 15 minutes before anyone else, to provide immediate, equal access to company information as noted by the SEC's fair disclosure regulation (Reg FD).<ref>{{cite news |url=http://www.prweek.com/article/1239494/15-minutes-business-wire|first=Craig|last=McGuire|title=15 minutes are up at Business Wire |work=PR Week |date=September 25, 2000|access-date=January 7, 2017}}</ref>
Business Wire's first wholly owned European operation launched in 2001, with the opening of an office in London.<ref>{{cite web |url=http://www.prweek.com/article/108474/business-wire-launch-own-euro-office-london|first1=Holly|last1=Williams|first2=Robin|last2=Londner|title=Business Wire to launch own Euro office in London |work=PR Week |date=February 23, 2001|access-date=January 7, 2017}}</ref> 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.<ref>{{cite press release |url=http://www.businesswire.com/news/home/20060301005454/en |title=Berkshire Hathaway Completes Acquisition of Business Wire |publisher=Business Wire|date=March 1, 2006 |access-date=January 7, 2017 }}</ref>
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.<ref>{{cite news|url=http://www.editorandpublisher.com/news/business-wire-launches-latinowire-in-venture-with-impremedia/|title=Business Wire Launches 'LatinoWire' In Venture With ImpreMedia|work=Editor & Publisher|access-date=January 7, 2017|date=July 9, 2008|archive-date=January 8, 2017|archive-url=https://web.archive.org/web/20170108093943/http://www.editorandpublisher.com/news/business-wire-launches-latinowire-in-venture-with-impremedia/|url-status=dead}}</ref> 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.<ref name=":0">{{cite news |url=http://searchengineland.com/warren-buffets-business-wire-awarded-patent-for-press-release-seo-94958 |title=Warren Buffet's Business Wire Awarded Patent for Press Release SEO |work=Search Engine Land|first=Danny |last=Sullivan|date=September 29, 2011|access-date=January 7, 2017}}</ref> The originality of the patent was questioned by SEO expert Danny Sullivan.<ref name=":0" />
On September 23, 2013, Business Wire announces exclusive distribution partnership with ''VentureBeat''<ref>{{cite web |url=https://venturebeat.com/2013/09/23/business-wire-comes-on-as-new-partner/|title=Business Wire Comes on as New Partner |publisher=VentureBeat| access-date=January 7, 2017|date=September 23, 2013}}</ref> On November 3, 2013, Business Wire opened its office in Hong Kong.<ref>{{cite web|url=https://www.bulldogreporter.com/psa-business-wire-announces-opening-of-hong-kong-full-service-office/|title=PSA: Business Wire Announces Opening of Hong Kong Full-Service Office|work=Bulldog Reporter|date=November 4, 2013|access-date=January 7, 2017|archive-date=January 8, 2017|archive-url=https://web.archive.org/web/20170108094517/https://www.bulldogreporter.com/psa-business-wire-announces-opening-of-hong-kong-full-service-office/|url-status=dead}}</ref>
In January 2014, Business Wire launched a new news and content distribution enhancement service.<ref>{{cite web |url=http://www.prweek.com/article/1280699/business-wire-adds-social-analytics-digital-services |title=PSA: Business Wire Launches Interactive News Services |work=PRWeek|date=January 14, 2014|first=Diana |last=Bradley |access-date=January 7, 2017}}</ref>
In April 2017, its chief executive officer and president, Cathy Baron Tamraz, retired and was replaced by longtime CFO Geff Scott.<ref>{{cite web |url=http://www.foxbusiness.com/features/2017/05/07/warren-buffett-isnt-retiring-but-some-his-lieutenants-are.html |title=Correction to Buffett's Lieutenants Article |publisher=Fox Business|date=May 8, 2017 |access-date=October 2, 2017 }}</ref>
==See also== * List of press release agencies
==References== {{reflist|30em}}
==External links== * {{Official website|http://www.businesswire.com}}
{{Berkshire Hathaway}}
Category:1961 establishments in California Category:2006 mergers and acquisitions Category:Berkshire Hathaway Category:American companies established in 1961 Category:Mass media companies established in 1961 Category:Companies based in San Francisco Category:News agencies based in the United States Category:Press release agencies