Sun Micro to become first company to issue press releases online

Richard Waters of the Financial Times writes that Sun Microsystems has decided that it will issue its news releases now only on the Internet and not by sending them out.

Waters wrote, “While not yet entirely by-passing existing mechanisms for distributing corporate news, Jonathan Schwartz, chief executive officer, suggested the move points to the day when companies stop issuing news releases and communicate with investors directly over the internet instead.

The technology company’s move follows a very public exchange with Christopher Cox, Securities and Exchange Commission chairman, carried out on Mr Schwartz’s blog.

Mr Schwartz complained that Reg FD, the SEC’s rule governing how companies release price-sensitive information, “doesn’t recognise the internet, or a blog, as the exclusive vehicle through which the public can be fairly informed�.

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