Marketwire is a commercial news release service. The company distributes news via traditional methods (Associated Press, Bloomberg, etc.) as well as new media methods (social media, blogs, et cetera).
Marketwire's President and Chief Executive Officer is Michael J. Nowlan. The company's headquarters is in Toronto, Ontario, Canada. It has more than 8,000 clients worldwide and has seventeen offices across North America, South America, Europe, and Asia.
In 2006, Marketwire was acquired by CCNMatthews, a 25-year-old news distribution company in Canada. The company adopted the name Marketwire unilaterally. The company is now majority-owned by OMERS Capital Partners, the private equity arm of one of Canada's largest pension funds.
Notable events
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On August 24, 2000, Mark Jakob, a former employee, used Internet Wire to send a fraudulent press release to the news media. The press release falsely reported that Emulex Corporation was suddenly in dire straits; several news outlets picked up the story the next morning, causing Emulex to lose 62% of its value in morning trading. The FBI later discovered that Jakob had shorted Emulex stock, and he was sentenced to 44 months in prison.[1]
References
- ^ "Defendant in Emulex Hoax Sentenced": Securities and Exchange Commission, Litigation Release No. 17094, August 8, 2001.
External links
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