Top Story


Home >> Media – Print >> Article

Berkshire Hathaway Inc to acquire Business Wire

Font Size   16
Berkshire Hathaway Inc to acquire Business Wire

Berkshire Hathaway has announced an agreement to acquire Business Wire, a privately held company that is a leading global distributor of corporate news, multimedia and regulatory filings. Terms of the transaction were, however, not disclosed.

Business Wire will operate as a wholly owned subsidiary of Berkshire Hathaway. Business Wire’s management team will remain in place and the company’s day-to-day operations will not be affected by the ownership change.

The acquisition is subject to customary closing conditions, including the termination of the applicable waiting period under the Hart-Scott-Rodino Act. The transaction is expected to close in the first quarter of 2006.

Warren Buffett, Berkshire Hathaway Chairman and CEO, said that Business Wire closely mirrored the profile of companies in Berkshire Hathaway’s portfolio. “In making this acquisition of Business Wire, we have followed our blueprint of buying profitable companies that are industry leaders, yet have significant growth potential,” said Buffett.

“Berkshire Hathaway is a perfect fit for Business Wire,” said Lorry I Lokey, who founded the company in 1961, and is the company’s Chairman. “Berkshire Hathaway is committed to providing a supportive environment that will enable Business Wire to continue to expand in overseas markets and to capitalize on emerging opportunities. We are very fortunate to become a part of one of the world’s most admired companies.”

Lokey will remain with Business Wire as Chairman, but will dedicate himself to his philanthropic pursuits. Lokey has made charitable donations in excess of $160 million to educational and medical research-related projects worldwide in the past decade.

Business Wire, which has expanded in Europe and Asia in recent years, is poised to take advantage of impending shifts in corporate transparency and disclosure requirements. It has set up numerous regulatory disclosure networks in Europe in preparation for the European Union’s Transparency Obligations Directive, which will take effect in January 2007. The TOD mandates harmonized, pan-European disclosure standards for publicly traded companies in all 25 member states.


Vijay Mansukhani, speaks to exchange4media about the resurgence of Onida, the scope of growth of consumer electronics market in India and the reasons why Indian consumer electronics brands don’t compete on a global scale

Projjol Banerjea opens up about hiring Anne Macdonald and GroupM's Rob Norman, and the brand's new identity

Meera Iyer tells exchange4media that in FY 2016/17, bigbasket clocked a revenue of Rs 1,400 crore. The online supermarket currently stands at 70,000 orders a day, with operations in 25 cities.

CMO, Kashyap Vadapalli on the start-up’s marketing play, why it has decided to stay away from IPL and response to its furniture rental apps

In terms of affiliates, India ranks on the top. Spurred by the fast growth of mobile users and hence internet users, there are millions of websites, apps, WAP-sites and blogs using affiliate marketing...

Insecurity in the workplace due to the idea of AI encroaching on your job, or being sidelined at work because of your small town background? Sandeep Goyal has the right answers to help you deal with w...

As National Sales Head at, Ashish aims to bring on board a maximum number of advertising partners and consolidate the network’s position as a leader in the space.