Business Wire, the multimedia news release distributor owned by Berkshire Hathaway, Warren Buffett’s investment vehicle, recently launched Latino Wire, a multi-channel press release distribution platform targeting the Hispanic market. While Business Wire has had Hispanic initiatives in the past , including a partnership with Hispanic PR Wire, the press release distribution service recently acquired by United Business Media’s PR Newswire, LatinoWire marks the first full fledged foray into the Hispanic market, Thomas Becktold, SVP Marketing at Business Wire, tells Portada.
Business Wire has a team focused solely on LatinoWire and the development of its products. Press releases will be published both in English and Spanish and distributed through more than 1200 media outlets. Becktold told Portada that through a contractual agreement with Impremedia, LatinoWire will be the exclusive press release distributor at the Impre.com portal.
Business Wire’s move is a vote of confidence in the Hispanic public relations market and the role of PR professionals in connecting corporate America with Hispanics.
There are now three press release distribution companies with exclusive Hispanic services: PR Newswire (Hispanic Pr Wire), Latino Wire and Market Wire, a full-service newswire and communications workflow solutions provider, whose North America Hispanic Newsline claims to offer the largest Hispanic news media distribution footprint in North America.
Business Wire also caters to other U.S. multicultural audiences through several services focused on the Asian American market and a partnership with Black PR Wire to target the African American Market.
The press release distribution sector in Latin America has also undergone changes recently.
Last January, Marketwire acquired Miami-based IMS, whose offering include newswire, translation, financial news aggregation, media management, and clipping and monitoring solutions serving emerging markets including Asia and Latin America. IMS was founded by entrepreneur Hector Botero.
According to Business Wire’s Becktold, in Latin America, Business Wire has distribution agreements with local national wire services. In Argentina it partners with Diarios y Noticias (Dyn) and in Mexico with Notimex. In Brazil it just announced a partnership with Agencia Estado. The partnership includes a sales agreement. On a regional level, Business Wire partners with AFP (Agence France Presse).