Business Wire 1655192 177491253 2007-12-12T19:32:47Z SmackBot 433328 Date/fix the maintenance tags or gen fixes using [[Project:AutoWikiBrowser|AWB]] {{Advert|date=December 2007}} {{Original research|date=August 2007}} {{Refimprove|date=August 2007}} [[Image:Business Wire logo.png|frame|Business Wire logo]] '''Business Wire''' is a company that disseminates full-text [[news release]]s from thousands of companies and organizations worldwide to [[news media]], financial markets, [[disclosure]] systems, investors, information web sites, databases and other audiences. The company distributes news via its own electronic network, NX, developed by its in-house tech team and using [[XML]]/[[NewsML]]. It also has carriage agreements with major news agencies, including the [[Associated Press]], [[Agence France-Presse]], [[Bloomberg L.P.|Bloomberg]], [[Dow Jones and Company|Dow Jones]], [[Reuters]], Thomson One, and some 60 regional [[news agencies]], to deliver content directly into their newsroom editorial systems. It was the first service of its type to put its clients' news online, launching the company's website in May 1995. Business Wire provides direct news feeds along with photo posting to [[Yahoo!]] Finance and other information web sites. It offers preset and fully customized [[RSS (file format)|RSS]] news feeds upon registration (which is free). In 2007, the company added social media networking "tags" to news releases for services including Digg, del.icio.us, Newsvine and Reddit. The company's EON: Enhanced Online News service provides a platform for news announcements utilizing a variety of [[Web 2.0]] technologies, with [[search engine optimization]] features, social media tags to encourage online sharing of news, and interactive multimedia. Working with stock markets and regulatory authorities, Business Wire is an authorized disclosure vehicle in the US and Canada (with news networks, [[EDGAR]] filings and [[SEDAR]] filings), the UK (with Financial Securities Authority-sanctioned (FSA) services), France (with Autorité des Marchés Financiers-sanctioned (AMF) services) and other European markets including Germany, Ireland, Luxembourg, the Netherlands, Sweden and Switzerland. In 2007, Business Wire established a pan-European disclosure service designed around the European Union's Transparency Obligations Directive (TOD) requirements. In addition to fulfilling financial disclosure requirements, this posts full-text news releases directly into major professional and individual investor systems. Journalists can set up personal web, RSS and email news feeds based on their specific beat criteria. == History == Business Wire was founded on [[October 2]], [[1961]] by [[Lorry I. Lokey]]. [[Cathy Baron Tamraz]] became CEO and president on [[December 16]] [[2005]]. 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>[http://home.businesswire.com/portal/site/home/index.jsp?epi-content=NEWS_VIEW_POPUP_TYPE&newsId=20060301005454&ndmHsc=v2*A1136131200000*B1143605299000*C1199203199000*DgroupByDate*J2*N1002912&newsLang=en&beanID=2084316627&viewID=news_view_popup '''Berkshire Hathaway Completes Acquisition of Business Wire'''], ''[[Business Wire]]''</ref> 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 European Union's Transparency Obligations Directive (TOD). 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 [[January 10]] [[2005]] Business Wire established an Asian hub with the opening of its Tokyo bureau, and later that year added Japanese, making the site available in seven languages On [[September 27]], [[2006]], Business Wire and Vocus, Inc. (NASDAQ:VOCS) announced the two companies had entered into a strategic partnership in which Business Wire would use a private label version of Vocus’ [[PRWeb]] press release distribution platform to provide a new search engine optimized (SEO) and social media distribution service. The platform is called [http://eon.businesswire.com EON:Enhanced Online News]. On [[April 24]] [[2007]] the U.S. Patent and Trademark Office awarded a patent to Business Wire for its Internet-based news distribution platform, known as 'Business Wire NX'. The United States Patent Office awarded 'NX' Patent N. 7069244 for its 'simultaneous network news distribution' capabilities. On [[January 1]] [[2007]] Autorite des Marches Financiers, the French Financial Markets Regulator, approved Business Wire to operate as a Regulatory Disclosure Service in France. == Notable Events == On [[November 1]] [[2005]] the SEC filed suit against an Estonian trading firm, Lohmus Haavel & Viisemann (Lohmus) for illicit trading conducted as a result of financial information garnered by accessing more than 360 press releases on behalf of over 200 public companies from the Business Wire website <ref>[http://www.sec.gov/news/press/2005-155.htm '''SEC Files Emergency Action Against Estonian Traders to Stop Ongoing Fraudulent Hacking Scheme'''], ''[[United States Securities and Exchange Commission]]''</ref> The releases were accessed via Business Wire's website during the 10 month period between January and November, 2005. Business Wire Chairman, Lorry Lokey issued a statement that no releases had been accessed prior to distribution, although employees of the Estonian firm, Oliver Peek and Kristjan Lepik had gathered $7.8 million in illegal profits during that time.<ref>[http://money.cnn.com/2005/11/01/markets/scandal_sec_bizwire/index.htm '''SEC halts traders' $7.8M hacking scheme'''], ''[[CNN|CNN/Money]]'' </ref>. ==References== {{reflist}} ==Additional References== *[http://money.cnn.com/2005/11/01/markets/scandal_sec_bizwire/index.htm/ CNN coverage of Estonian hacking scheme] *[http://www.sec.gov/news/press/2005-155.htm/ SEC suit filed against Estonian firm] ==External links== *[http://www.businesswire.com/ Business Wire] - main site *[http://home.businesswire.com/portal/site/home/?epi_menuItemID=b9cf0a83ac76f2425e0fa455c6908a0c&epi_menuID=8529ea2ad8631dcd3bb97904c6908a0c&epi_baseMenuID=384979e8cc48c441ef0130f5c6908a0c Smart News Releases - Photos & Multimedia] {{Berkshire Hathaway}} [[Category:Berkshire Hathaway]] [[Category:Press release agencies]] [[de:Business Wire]] [[fr:Business Wire]] [[ja:ビジネスワイヤ]]