PR Newswire

PR Newswire
Subsidiary
Industry
  • Publications
  • communications
Founded March 8, 1954 (1954-03-08)
Founder Herbert 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]

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 1972, PR Newswire began using electronic terminals for copyediting. In 1978, the company adopted the Associated Press' computerized message handling and transmission system. In 1982, PR Newswire was purchased by United Business Media, known at the time as United Newspapers.[6]

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.[7] On April 17, 2007, PR Newswire acquired Vintage Filings.[8]

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.[9] The largest competitor to PR Newswire is Business Wire.[10] 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.[10]

See also

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. ↑ "UBM". Media Briefing. Archived from the original on January 31, 2013. Retrieved January 30, 2013.
  7. ↑ "Touchstone Pictures' "Pearl Harbor" Premieres". Archived from the original on August 23, 2002.
  8. ↑ "United Business Media acquires Vintage Filings, LLC". April 18, 2007. Retrieved April 26, 2017.
  9. ↑ "PR Newswire Acquires Leading Online News Room Hosting Company, The Fuel Team". PR Newswire. July 31, 2009. Retrieved April 3, 2014.
  10. 1 2 "UBM plc Annual Report and Accounts 2013" (PDF). Archived from the original (PDF) on June 25, 2014. Retrieved 28 May 2014.
This article is issued from Wikipedia. The text is licensed under Creative Commons - Attribution - Sharealike. Additional terms may apply for the media files.