Business Wire is a commercial press release distribution company which has offices in 162 countries. Creator of the NX distribution network, Business Wire is known for its wide reach and accuracy in transmitting the most important news in a variety of industries.
Created in 1961, Business Wire has expanded to reach more than 89,000 news outlets. It owns a variety of specialty distribution networks as well which cater to markets like automotive, health, sports, and entertainment, to name a few. The company boasts 22 full-service newsrooms and has 32 offices worldwide.
In addition to providing press release distribution, Business Wire offers a variety of other sources for media and other companies including hosting online newsrooms and IR websites, building content marketing platforms, and providing audience analysis on each distributed piece in order to understand and improve penetration in target markets.
Business Wire was founded in San Francisco in 1961 by Lorry Lokey, a journalist and PR professional. When it was first established, it only served seven clients and 16 news media. A few years later it was not only profitable, but had expanded to a second location in Los Angeles. By the end of the 1960s, Business Wire was serving more than 300 clients and issuing news at a circuit speed of around 100 words per minute.
In the 1970s and 1980s, the company continued to expand across the United States and was soon coast-to-coast with a presence in New York, Cleveland, Miami, Philadelphia, Nashville, Phoenix, and other places. It also expanded to offer its news abroad and forged sales agreements with companies in Canada, Asia, and Europe.
With the rise of the popularity of computers and the Internet in the 1990s, Business Wire was one of the first companies to create a website and offering its customers the ability to transfer content at what was unheard of speeds. It also created new channels such as SportsWire, HealthWire, EntertainmentWire, and AutomotiveWire to cater to more specialized markets. Throughout the 90s and into the 2000s, the company continued to expand and further its reach.
Business Wire was acquired by Berkshire Hathaway in 2006. At the time, the company has around 500 employees and had an international presence both online and in actual offices. The company now supports news bureaus in 30 cities across the globe and offers a range of services including SEO optimization and, of course, distribution of print and visual media.