Berkshire Hathaway Completes Acquisition of Business Wire.OMAHA Omaha, city, United States Omaha (ō`məhä, –hô), city (1990 pop. 335,795), seat of Douglas co., E Nebr., on the west bank of the Missouri River; inc. 1857. , Neb. & SAN FRANCISCO San Francisco (săn frănsĭs`kō), city (1990 pop. 723,959), coextensive with San Francisco co., W Calif., on the tip of a peninsula between the Pacific Ocean and San Francisco Bay, which are connected by the strait known as the Golden -- Berkshire Hathaway (NYSE NYSE See: New York Stock Exchange : BRK BRK Break BRK Broken (meteorological, cloud cover) BRK Bayerisches Rotes Kreuz (Bavarian Red Cross) BRK Berkshire Hathaway (stock symbol) BRK Brick .A and BRK.B) announced Wednesday it has successfully completed its acquisition of Business Wire, the leading global distributor of corporate news, multimedia and regulatory filings. The financial terms of the transaction, which was announced on January 17, 2006, were not disclosed. Business Wire is now a wholly-owned subsidiary of Berkshire Hathaway. "Our association with Berkshire Hathaway has already generated considerable excitement in the marketplace," noted Cathy Baron Tamraz, Business Wire's president and chief executive officer. "Beyond the obvious financial resources, Warren Buffett Warren Buffett Known as "the Oracle of Omaha," Buffett is Chairman of Berkshire Hathaway and arguably the greatest investor of all time. His wealth fluctuates with the performance of the market, but for the last few years he has been reported to be worth over $30 billion, making is recognized and respected worldwide for his business acumen. The response from our clients, business partners and employees has been overwhelmingly positive. We look forward to making our new owner very proud." Business Wire's experienced management team--a key factor in Buffett's decision to acquire the company--will remain intact. The transition in ownership will not have an impact on the company's day-to-day operations. Business Wire registered double-digit growth in 2005, with its offices in London and Frankfurt ranking among the highest percentage increases on a year-to-year basis. About Business Wire: Business Wire was founded in 1961 by chairman Lorry I. Lokey, veteran journalist and public relations public relations, activities and policies used to create public interest in a person, idea, product, institution, or business establishment. By its nature, public relations is devoted to serving particular interests by presenting them to the public in the most 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. About Berkshire Hathaway: Berkshire Hathaway and its subsidiaries engage in a number of diverse business activities among which the most important is the property and casualty reinsurance The contract made between an insurance company and a third party to protect the insurance company from losses. The contract provides for the third party to pay for the loss sustained by the insurance company when the company makes a payment on the original contract. business conducted on both a direct and reinsurance basis. Common stock of the company is listed on the New York Stock Exchange New York Stock Exchange (NYSE) World's largest marketplace for securities. The exchange began as an informal meeting of 24 men in 1792 on what is now Wall Street in New York City. , trading symbols BRK.A and BRK.B. |
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