AFTER weeks of testing and waiting, Thomson Reuters corporate clients in North America and Europe can finally distribute their news releases directly to Yahoo! Finance.
The addition of Thomson Reuters ONE as a news source on the most popular investing website in the US fills an important gap and will help Thomson Reuters to compete more effectively with the four established PR wire services. Until recently, the company had been forced to piggyback on the Reuters editorial feed to access Yahoo!
Thomson Reuters introduced its do-it-yourself PR wire service last June but relatively few US companies have adopted it for their financial disclosures, even though the service is provided free to thousands of the company’s existing IR website customers.
Alternative to full-service PR wires
A key hurdle to wider adoption has been the lack of distribution to Yahoo! Finance and the fact that there is a learning curve for companies in formatting their own releases.
However, with distribution to Yahoo! now accomplished and a number of IR firms embracing the service on their clients’ behalf, many more companies will likely move their releases from expensive full-service PR wire services to Thomson Reuters ONE.
Reviewing the Thomson Reuters ONE feed on Yahoo! Finance, I noticed releases from a handful of US companies in the first two days, including Geokinetics Inc. (NYSE AMEX: GOK), Weingarten Realty Investors (NYSE: WRI), Terex Corporation (NYSE: TEX), Sealed Air (NYSE: SEE), Orbital Sciences (NYSE: ORB) and TeamStaff (NASDAQ: TSTF).
Most of the releases, however, are from European companies. This is because the Thomson Reuters ONE service is based on technology Thomson Reuters acquired when it purchased the Hugin PR wire service from NYSE Euronext in 2009.
Hugin’s client base skews heavily to continental European companies. A side benefit for these companies is that their releases now have more visibility in the US, although this might create regulatory headaches if the releases concern securities offerings that are not registered in the US.