PR Newswire to Acquire Fastest Growing EDGAR Filing Firm, Vintage Filings, LLC

2007-04-20 12:19 1550

Combination to satisfy growing demand for seamless coordination of press release distribution and regulatory filings

NEW YORK, April 19 /Xinhua-PRNewswire/ -- PR Newswire, the global leader in commercial news distribution, announced today its acquisition of Vintage Filings, LLC, one of the leading and fastest growing EDGAR filing companies in the United States.

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Vintage Filings, headquartered in New York, will become a division of PR Newswire and will continue to be led by Chief Executive Officer Shai Stern and President Seth Farbman. Vintage Filings will facilitate all electronic financial filings for PR Newswire's EDGAR Express customers.

"Vintage Filings is a valued and trusted resource for the Fortune 500, mid-size and small cap public companies, and investment banking firms it serves, and is well known for providing superior and unmatched customer service around the clock, at highly competitive prices," said Charles Gregson, chief executive officer, PR Newswire. "Electronic and simultaneous delivery of information to all audiences -- the media, investors both institutional and retail, as well as regulatory organizations -- is increasingly important. Together, we will deliver all of these things."

From distributing press releases, hosting webcasts and creating and disseminating XBRL documents to filing regulatory EDGAR documents with the U.S. Securities and Exchange Commission and providing financial printing services, PR Newswire can help public companies comply with all facets of disclosure.

Shai Stern, chief executive officer of Vintage Filings, said, "We are extremely pleased to join the PR Newswire family. With the largest distribution network to media and an unparalleled reach to investors, bolstered by an exclusive channel on Thomson Financial's First Call Network, PR Newswire will offer our customers the greatest opportunity for their financial news to reach critical audiences, wherever they are."

Vintage Filings' President Seth Farbman stated, "We look forward to bringing our EDGAR, typesetting and financial printing experience and value to the PR Newswire family. Public companies will surely benefit from our combined expertise in electronic filing and simultaneous news distribution and webcasting services."

The SEC created EDGAR -- an acronym for Electronic Data-Gathering, Analysis and Retrieval -- in 1993 and recently embarked on a $50 million upgrade of the web-based system in preparation for an expected upsurge in corporations furnishing interactive data. For its part, PR Newswire has been an active participant in a not-for-profit coalition, XBRL-U.S., working closely with the SEC on the development of a new interactive data standard known as eXtensible business reporting language (XBRL), an XML-based standard that permits the automatic exchange and reliable extraction of financial and business information across all software formats and technologies.

"The acquisition of Vintage Filings was a natural outgrowth of the convergence of news dissemination, regulatory filings and interactive data," said Ira Krawitz, PR Newswire's newly appointed senior vice president of Investor Relations Services. "Together, PR Newswire and Vintage Filings will be able to offer public companies a one-stop-shop for all their disclosure and regulatory needs."

Vintage Filings, LLC is a five-year old company with 65 full-time employees working at offices in New York, Los Angeles, and San Francisco. The company provides full-service filing capabilities, typesetting and financial printing to more than 1,000 public companies, mutual funds, investment management firms, law firms and individuals around the world, assisting them in meeting the EDGAR filing requirements of the SEC.

PR Newswire is recognized as an established, secure means for listed companies around the world to meet disclosure regulations. The company and its subsidiaries are employed by thousands of corporations in the United States, Canada, United Kingdom, Germany, France, The Netherlands, Ireland, Switzerland, China, Brazil and dozens of additional nations. In January, PR Newswire launched its TOD Wire, a service that facilitates listed companies' compliance with the new regulations required under the European Union's Transparency Obligations Directive (TOD), while also helping them satisfy best practices in communicating with institutional and retail investors across the EU. Additionally, PR Newswire provides news distribution services for companies throughout Asia, Latin America and the Middle East. PR Newswire also plays a critical role in educating the corporate, investor and regulatory communities around the world on issues of disclosure and transparency.

About PR Newswire

PR Newswire Association LLC ( ) provides electronic distribution, targeting, measurement and broadcast services on behalf of tens of thousands of corporate, government, association, labor, non-profit, and other customers worldwide. Using PR Newswire, these organizations reach a variety of critical audiences including the news media, the investment community, government decision-makers, and the general public with their up-to-the-minute, full-text news developments.

Established in 1954, PR Newswire has offices in 11 countries and routinely sends its customers' news to outlets in 135 countries and in more than 40 languages. Utilizing the latest in communications technology, PR Newswire content is considered a mainstay among news reporters, investors and individuals who seek breaking news from the source. PR Newswire's leading services include ProfNet Experts(SM), eWatch(TM), MEDIAtlas(TM), Search Engine Optimization, MediaRoom, MediaSense(TM), MultiVu(TM) and U.S. Newswire, the preeminent policy newswire in the industry. PR Newswire is a subsidiary of United Business Media plc of London.

Source: PR Newswire Association LLC
Keywords: Advertising