Corporate communication is the language this company speaks. PR Newswire Association is a leading distributor of corporate news and public relations materials to outlets in 170 countries, serving customers through its offices in more than a dozen countries. The company broadcasts press releases, photos, and multimedia presentations in 40 languages to thousands of news organizations and more than 5,500 websites, online databases, and other information outlets. In addition, PR Newswire provides tools that allow its customers to target their communications to specific audiences and to monitor how effectively their messages are getting out. PR Newswire is a subsidiary of UK-based media firm UBM.
Parent company UBM reported revenue growth of about 12% at PR Newswire for its fiscal year 2010. These results reflect positive results from its US wire distribution service, which accounts for the largest portion of the company's revenues (more than 40%). PR Newswire benefitted from a recovering economy that reflected higher levels of corporate and marketing activity, thus causing an increase in news releases issued that year.
While PR Newswire's revenues increased in 2010, its adjusted operating profits fell by 6% due to higher levels of investment in the business as it continues to expand beyond its roots in commercial news release distribution. That year the company was busy introducing new products to help marketing and communications professionals do their jobs. Such product launches in 2010 included the PR Toolkit for Authors and Publishers; an interactive social media platform called ARC (which stands for Access, Reach, Connect); and ProfNet Connect, an interactive online expert community for communications professionals.
The company previously diversified its offerings with the formation of subsidiaries and divisions such as MultiVu and Vintage Filings. Its MultiVu subsidiary marked the company's focus on multimedia expansion; MultiVu offers in-house production of video and audio news releases, satellite media tours, and a variety of Webcast services. In addition, PR Newswire partners with EDGAR Online to offer financial filing and printing services through its Vintage Filings division.
PR Newswire has also been busy expanding internationally through several acquisitions. In 2010 it purchased Hors Antenne, which provides a database of French contacts. It also bought Corporate360, a Hong Kong based company that provides webcasting solutions for Asian businesses. Its acquisition of DNA-13 bolstered its Canadian Newswire business with workflow solutions for PR professionals. In addition, the company acquired the remaining interests in PR Newswire do Brasil and PR Newswire Argentina to expand its presence in Emerging Markets.
These efforts have been overseen by CEO Ninan Chacko, who was hired in 2009. Chacko has a background in the travel and transportation industries. He replaced the retiring Charles Gregson. PR Newswire was founded in 1954 by Herbert Muschel. – less