Business Wire introduced its Internet-based news distribution platform in September 2003, a then-radical departure from the satellite delivery channel that was the default distribution among international newswires. Developed in-house under the direction of CIO Steve Messick, NX pioneered the secure, real-time and simultaneous delivery of multimedia and multilingual news releases to a worldwide audience.
“With XBRL gaining traction in financial markets worldwide, Business Wire is uniquely positioned to deliver interactive data documents to a global audience on a real-time basis.”
Business Wire today delivers up to 100 releases timed to the exact minute to market-moving news services, financial information providers, databases, online services and web portals--ensuring all market participants equal access to price-sensitive information. Bi-directional monitoring enables Business Wire to remotely confirm receipt of all data.
NX continues to strongly influence the information industry agenda, serving as a catalyst for change among Business Wire's downstream data recipients. XBRL is shaping up as the next transition target, with Business Wire once again prompting other service providers to adapt to changing transmission formats.
"NX is a key competitive advantage for Business Wire as it is the only network platform capable of transmitting XBRL-embedded data within a financial news release," said Cathy Baron Tamraz, president and chief executive officer of Business Wire. "With XBRL gaining traction in financial markets worldwide, Business Wire is uniquely positioned to deliver interactive data documents to a global audience on a real-time basis."
NX is just one of Business Wire's many technical "firsts" that have altered the news delivery landscape in recent decades.
The list of industry precedents include the SMART News Release (SNR), which combines multimedia assets with the traditional press release. Launched in 1997, SNRs provide an integrated platform to include audio, photos, video, and spreadsheets, in addition to the standard text format.
Most recently, Business Wire introduced EarningsDirect, a turnkey solution that enables corporate issuers to effortlessly convert fundamental financial data into an XBRL format. EarningsDirect includes an "Intelligent Financial Statement," a proprietary text format that is readable by individual news consumers as well as computer systems, making the benefits of interactive data accessible to a cross-section of the investment public.
About Business Wire
Business Wire, a Berkshire Hathaway company, was founded in 1961 by chairman Lorry I. Lokey, veteran journalist and public relations executive.
The company's multi-channel delivery network, with access to some 60 international and national news agencies, financial information providers and Web-based news services throughout North America, Europe, Asia, Latin America, the Middle East and Africa, provides real-time, simultaneous access to key audiences -- the news media, trade publications, institutional and individual investors, business-to-business decision-makers and consumers.
Business Wire electronically disseminates some 1,000 full-text news releases daily to the media, the Internet, online services and databases, and the global investment community in 150 countries in 45 languages. Business Wire has 24 U.S. offices, Paris, Frankfurt, London, Brussels, Tokyo and Sydney offices, and reciprocal offices throughout the world.
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