Categories: OLD Media Moves

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 companyâ€™s move follows a very public exchange with Christopher Cox, Securities and Exchange Commission chairman, carried out on Mr Schwartzâ€™s blog.

Mr Schwartz complained that Reg FD, the SECâ€™s rule governing how companies release price-sensitive information, â€œdoesnâ€™t recognise the internet, or a blog, as the exclusive vehicle through which the public can be fairly informedâ€?.

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Chris Roush

Chris Roush was the dean of the School of Communications at Quinnipiac University in Hamden, Connecticut. He was previously Walter E. Hussman Sr. Distinguished Professor in business journalism at UNC-Chapel Hill. He is a former business journalist for Bloomberg News, Businessweek, The Atlanta Journal-Constitution, The Tampa Tribune and the Sarasota Herald-Tribune. He is the author of the leading business reporting textbook "Show me the Money: Writing Business and Economics Stories for Mass Communication" and "Thinking Things Over," a biography of former Wall Street Journal editor Vermont Royster.