PR Newswire

Last updated
PR Newswire
Subsidiary
Industry
  • Publications
  • communications
FoundedMarch 8, 1954;64 years ago (1954-03-08)
FounderHerbert Muschel
Headquarters
350 Hudson Street, Suite 300 New York City, New York
,
U.S. 10014-4504 [1]
Products Newswire service
Parent Cision Inc.
Website www.prnewswire.com

PR Newswire is a distributor of press releases headquartered in New York City. [2] The service was created in 1954 to allow companies to electronically send press releases to news organizations, at first using teleprinters. The founder, Herbert Muschel, operated the service from his house in Manhattan for approximately 15 years. The business was eventually sold to Western Union and then United Newspapers of London. [3] In December 2015, Cision Inc. acquired the company. [4]

A press release, news release, media release, press statement or video release is a written or recorded communication directed at members of the news media for the purpose of announcing something ostensibly newsworthy. Typically, they are mailed, faxed, or e-mailed to assignment editors and journalists at newspapers, magazines, radio stations, online media, television stations or television networks.

New York City Largest city in the United States

The City of New York, usually called either New York City (NYC) or simply New York (NY), is the most populous city in the United States. With an estimated 2017 population of 8,622,698 distributed over a land area of about 302.6 square miles (784 km2), New York is also the most densely populated major city in the United States. Located at the southern tip of the state of New York, the city is the center of the New York metropolitan area, the largest metropolitan area in the world by urban landmass and one of the world's most populous megacities, with an estimated 20,320,876 people in its 2017 Metropolitan Statistical Area and 23,876,155 residents in its Combined Statistical Area. A global power city, New York City has been described as the cultural, financial, and media capital of the world, and exerts a significant impact upon commerce, entertainment, research, technology, education, politics, tourism, art, fashion, and sports. The city's fast pace has inspired the term New York minute. Home to the headquarters of the United Nations, New York is an important center for international diplomacy.

Teleprinter device for transmitting messages in written form by electrical signals

A teleprinter is an electromechanical device that can be used to send and receive typed messages through various communications channels, in both point-to-point and point-to-multipoint configurations. Initially they were used in telegraphy, which developed in the late 1830s and 1840s as the first use of electrical engineering. The machines were adapted to provide a user interface to early mainframe computers and minicomputers, sending typed data to the computer and printing the response. Some models could also be used to create punched tape for data storage and to read back such tape for local printing or transmission.

Contents

History

PR Newswire was founded in March 1954. [5] In 1971, it was sold to Western Union, [3] which had provided the telecommunications lines and teleprinters that supported the service. In 1977, PR Newswire began using electronic terminals for copyediting.

The Western Union Company is an American worldwide financial services and communications company. Its headquarters is in Meridian, Colorado, although the postal designation of nearby Englewood is used in its mailing address. Up until it discontinued the service in 2006, Western Union was globally the best-known American company in the business of exchanging telegrams.

In 2000 the company acquired eWatch, founded in 1995 as an automated service to monitor websites, chat rooms, Usenet groups, web publications, online service forums and investor message boards for mentions of a specific organization, issue, product or service. In 2001, PR Newswire issued the first Multimedia News Release for Touchstone Pictures promoting the film Pearl Harbor. The Multimedia News Release was the first press release to include b-roll, soundbites, high resolution images, and film trailer. [6] On April 17, 2007, PR Newswire acquired Vintage Filings. [7]

Website set of related web pages served from a single web domain

A website or Web site is a collection of related network web resources, such as web pages, multimedia content, which are typically identified with a common domain name, and published on at least one web server. Notable examples are wikipedia.org, google.com, and amazon.com.

The term chat room, or chatroom, is primarily used to describe any form of synchronous conferencing, occasionally even asynchronous conferencing. The term can thus mean any technology ranging from real-time online chat and online interaction with strangers to fully immersive graphical social environments.

Usenet worldwide distributed Internet discussion system

Usenet is a worldwide distributed discussion system available on computers. It was developed from the general-purpose Unix-to-Unix Copy (UUCP) dial-up network architecture. Tom Truscott and Jim Ellis conceived the idea in 1979, and it was established in 1980. Users read and post messages to one or more categories, known as newsgroups. Usenet resembles a bulletin board system (BBS) in many respects and is the precursor to Internet forums that are widely used today. Discussions are threaded, as with web forums and BBSs, though posts are stored on the server sequentially. The name comes from the term "users network".

In December 2008, PR Newswire moved its New York City corporate headquarters from Midtown Manhattan to Lower Manhattan, at 350 Hudson Street. [1] In mid-2009, PR Newswire acquired The Fuel Team. [8] The largest competitor to PR Newswire is Business Wire. [9] On December 15, 2015, PR Newswire was sold to global media intelligence company, Cision, for $841 million. [4] The transaction, which required approval by the shareholders of UBM plc as well as regulatory approvals, was expected to close late in the first quarter of 2016. As of June 2016 (closing date of the deal) it became a subsidiary of Cision. [2] As of 2013, the PR newswire database includes 10,700 syndicated websites and has 800,000 journalists and influencers in its network. [9]

Midtown Manhattan central business district in New York City

Midtown Manhattan is the central portion of the borough of Manhattan in New York City. Midtown is home to some of the city's most iconic buildings, including the Empire State Building, the Chrysler Building, the Hudson Yards Redevelopment Project, the headquarters of the United Nations, Grand Central Terminal, and Rockefeller Center, as well as Broadway and Times Square.

Lower Manhattan Central business district in New York, United States

Lower Manhattan, also known as Downtown Manhattan or Downtown New York, is the southernmost part of Manhattan, the central borough for business, culture, and government in the City of New York, which itself originated at the southern tip of Manhattan Island in 1624, at a point which now constitutes the present-day Financial District. The population of the Financial District alone has grown to an estimated 61,000 residents as of 2018, up from 43,000 as of 2014, which in turn was nearly double the 23,000 recorded at the 2000 Census.

Business Wire company

Business Wire is a 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. It is a subsidiary of Berkshire Hathaway.

See also

Related Research Articles

UBM plc multinational media company

UBM plc is a global business-to-business (B2B) events organiser headquartered in London, United Kingdom. It has a long history as a multinational media company. Its current main focus is on B2B events, but its principal operations have included live media and business-to-business communications, marketing services and data provision, and it principally serves the technology, healthcare, trade and transport, ingredients and fashion industries. UBM was listed on the London Stock Exchange and was a constituent of the FTSE 250 Index until it was acquired by Informa in June 2018.

M&T Bank American bank

M&T Bank Corporation is an American bank holding company headquartered in Buffalo, New York. It operates 780 branches in New York, New Jersey, Pennsylvania, Maryland, Delaware, Virginia, West Virginia, Washington, D.C., and Connecticut.

CNW Group (CNW) is now Cision in Canada, a public relations and earned media software company and services provider. The former CNW commercial press release service continues on as part of Cison's global distribution network.

BB&T Banking company in the U.S.

BB&T Corporation is a bank holding company based in Winston-Salem, North Carolina. Its bank operates 2,049 branches in 15 states and Washington, D.C., and offers consumer and commercial banking, securities brokerage, asset management, mortgage, and insurance products and services. It was ranked 16th on the list of largest banks in the United States by assets. Its subsidiary, BB&T Insurance Services, was one of the largest insurance brokers in the world. In its history BB&T has made 106 mergers and acquisitions. Since it took over Southern National Bank in 1995, BB&T has made 43 deals. It is merging with SunTrust Banks in 2019, which will lead to a new name and a headquarters in Charlotte, North Carolina.

Bausch Health Companies Inc. is a multinational specialty pharmaceutical company based in Laval, Canada. It develops, manufactures, and markets a broad range of pharmaceutical products primarily in the areas of dermatology, gastrointestinal disorders, eye health, neurology, and branded generics. Valeant owns Bausch & Lomb, one of the world's largest suppliers of eye health products.

W. P. Carey Inc. is a real estate investment trust that invests in properties leased to single tenants via NNN leases. The company is organized in Maryland, with its primary office in New York City.

Apache Corporation company

Apache Corporation is a company engaged in hydrocarbon exploration. It is organized in Delaware and headquartered in Houston. The company is ranked 438th on the Fortune 500.

SITE Centers American real estate company

SITE Centers Corp. is a publicly traded real estate investment trust that invests in shopping centers.

EQT Corporation is a company engaged in hydrocarbon exploration and pipeline transport. It is headquartered in EQT Plaza in Pittsburgh, Pennsylvania.

Liberty Property Trust is a publicly-traded real estate investment trust that invests in office buildings and industrial properties. As of December 31, 2017, the company owned interests in 461 industrial and 48 office properties comprising 86.0 million square feet.

Cision company

Cision Ltd. is a public relations and earned media software company and services provider. The company is incorporated in the Cayman Islands and has its headquarters in Chicago, Illinois; it serves clients worldwide. The company went public via reverse merger in June 2017. In addition to its web-based PR and earned media software as a service (SaaS) suite the Cision Communications Cloud, the company owns online publicity and media services PRNewswire, PRWeb, Bulletin Intelligence, L'Argus de la presse, Help a Reporter Out (HARO), CEDROM-SNI and Prime Research. The company operates in the United States, Canada, Europe and Asia.

UBM Technology Group is a business-to-business multimedia company that provides information and integrated marketing services to technology professionals worldwide. UBM Technology Group offers marketers and advertisers services such as print, newsletters, custom Web sites, and events. Its products and services include newspapers, magazines, Internet products, research, education and training, trade shows and conferences, direct marketing services and custom publishing.

Noble Energy, Inc. is a company engaged in hydrocarbon exploration. It is headquartered in Houston, Texas. The company is ranked 583rd on the Fortune 1000.

Pactera Technology International Ltd., (文思海辉技术有限公司) is an IT consulting and outsourcing company with corporate headquarters in Beijing, China, and regional headquarters in North America, Europe, and Asia Pacific. The service areas of the company are in technology, telecom, finance, insurance, energy, travel, manufacturing, retail and logistics.

Cimarex Energy Co. is a company engaged in hydrocarbon exploration. It is organized in Delaware and headquartered in Denver, Colorado, with operations primarily in Texas, Oklahoma, and New Mexico.

Vocus (software) former business enterprise headquartered in Beltsville, US

Vocus was a public relations software company based in Beltsville, Maryland, United States, serving clients worldwide from 1992 to 2014. In addition to its web-based PR software suites, the company owns the online publicity services, PRWeb and Help a Reporter Out (HARO). Vocus was founded in 1992 by Rick Rudman and Bob Lentz and was a publicly held company until June 2014 when it was taken private by Chicago-based private equity company GTCR. The company operates additional offices in the United States, Europe and Asia. Since late 2014, the company merged with Cision AB to form Cision Inc. as the succeeding company.

Allergan plc is an Irish–tax registered pharmaceutical company that acquires, develops, and markets brand name drugs, and in 2017 generated 80% net sales from the U.S. healthcare system. Allergan plc was formed in February 2015 when Irish–registered Actavis plc acquired U.S.–registered Allergan, Inc., and assumed the Allergan name. Actavis was a 2013 U.S. corporate tax inversion who moved to Ireland to avoid U.S. taxes on their income, almost all of which came from the U.S. healthcare system. Actavis used the Irish low-tax corporate system to acquire large U.S. pharmaceutical firms, and redomicile them to Ireland. In 2016, the U.S. blocked Actavis from executing what would have been the largest corporate tax inversion in history with Pfizer.

Washington Prime Group Inc. is a real estate investment trust that invests in shopping centers. The company is organized in Indiana with its headquarters in Columbus, Ohio. From January 2015 to September 2016, the company had the name WP Glimcher.

Federal Realty Investment Trust is a real estate investment trust that invests in shopping centers in the Northeastern United States, the Mid-Atlantic states, California, and South Florida.

References

  1. 1 2 "Worldwide Offices - New York Headquarters". PR Newswire Association LLC. Retrieved July 20, 2014.
  2. 1 2 Todd Spangler (June 17, 2016). "PR Newswire CEO Bob Gray to Exit as Cision Completes $841 Million Acquisition". Variety. Retrieved August 17, 2016.
  3. 1 2 Abelson, Reed (November 5, 2003). "Herbert Muschel, 85, Founder Of Service for Corporate News". The New York Times . New York City: The New York Times Company . Retrieved January 30, 2013.
  4. 1 2 Bray, Chad (December 15, 2015). "PR Newswire Sold to Cision for $841 Million". The New York Times . New York City: The New York Times Company . Retrieved October 27, 2017.
  5. "About PR Newswire". PR Newswire. Retrieved 27 November 2014.
  6. "Touchstone Pictures' "Pearl Harbor" Premieres". Archived from the original on August 23, 2002.
  7. "United Business Media acquires Vintage Filings, LLC". April 18, 2007. Retrieved April 26, 2017.
  8. "PR Newswire Acquires Leading Online News Room Hosting Company, The Fuel Team". PR Newswire. July 31, 2009. Retrieved April 3, 2014.
  9. 1 2 "UBM plc Annual Report and Accounts 2013" (PDF). Archived from the original (PDF) on June 25, 2014. Retrieved 28 May 2014.