NEW YORK, March 22 /PRNewswire/ -- PR Newswire and
EDGAR® Online, Inc. (Nasdaq: EDGR) jointly announced today
that they have agreed to work together to deliver next -generation
compliance and communications offerings based on XBRL (eXtensible
Business Reporting Language) technology.
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As part of the agreement, PR Newswire's Vintage Filings division
will immediately offer EDGAR Online's industry-leading XBRL tagging
and filing services as part of their extensive SEC compliance
offerings. Additionally, the companies have agreed to work
together to incorporate XBRL data and tools from EDGAR Online
within investor communications products offered by PR Newswire.
"PR Newswire has been at the forefront of the movement towards
improving the transparency of financial information and disclosure
since 2004 and has offered XBRL document preparation services since
2005," said Scott Mozarsky,
executive vice president, Commercial Operations, PR Newswire. "The
thousands of public companies who regularly communicate their
financial information and comply with SEC regulations through PR
Newswire and our Vintage Filings division, will now significantly
benefit from EDGAR Online's superior technology and deep knowledge
of XBRL data, along with their leadership in all areas of XBRL from
creation to analysis. EDGAR Online's XBRL filing services are
the perfect complement to PR Newswire's and Vintage Filings'
comprehensive, industry-leading suite of communications and
compliance services."
Through PR Newswire and Vintage Filings, one of the leading SEC
filing services, public companies have a one-stop-shop to satisfy
all of their communication, compliance and intelligence needs.
From earnings release distribution, IR webcasting, XBRL
document creation, IR website hosting, multimedia annual report
production and distribution to EDGAR document preparation and
filing, printing and typesetting services, notice & access
proxy services, and market intelligence and research through PR
Newswire's alliance with Ipreo's BD Corporate Platform, PR Newswire
offers a comprehensive suite of IR services to power stakeholder
engagement.
"PR Newswire is one of the leading brands in the investor
communication industry," said Philip
Moyer, president and CEO of EDGAR Online. "We are
extraordinarily proud to be bringing our XBRL expertise together
with their compliance offerings. We are equally excited by
the prospect of working together with PR Newswire to build a next
generation digital communication offering that connects issuers
directly to the investors they want to target."
Moyer added, "As the SEC and other global regulatory bodies
adapt regulatory disclosure in line with the digital age, public
companies are faced with increasingly complex compliance and
communication challenges. We believe there is a broad opportunity
to create a 360 degree solution for public company compliance and
investor communications."
According to the SEC mandate of December
2008, all US public companies are required to file
XBRL-tagged financial statements with the SEC according to a
three-year phase-in period. The largest companies began in
2009. All large accelerated US filers with a public float above
$5 billion began XBRL submission
starting with their first 10-Q for a fiscal period ending on or
after June 15, 2009. All other
large accelerated US filers will be required to comply starting
with their first 10-Q for a fiscal period ending on or after
June 15, 2010 and all remaining US
filers will start with their first 10-Q for a fiscal period ending
on or after June 15, 2011.
About PR Newswire
PR Newswire is the global leader in innovative communications
and marketing services, enabling organizations to connect and
engage with their target audiences worldwide. Through its
multi-channel distribution network, audience intelligence,
targeting, measurement and compliance services, PR Newswire helps
corporations and organizations conduct rich, timely and dynamic
dialogues with the media, consumers, policymakers, investors and
the general public, in support of building brands, generating
awareness, impacting public policy, driving sales, and raising
capital.
Pioneering the commercial news distribution industry 55 years
ago, PR Newswire connects customers with audiences in more than 170
countries and in over 40 languages through an unparalleled network
of offices in 16 countries across North and South America, Europe, Asia,
and the Middle East, and via
unique affiliations with the leading news agencies across the
globe.
PR Newswire is a subsidiary of United Business Media Limited
(UBM.L), a leading global business media company that serves
professional commercial communities around the world. For more
information, go to www.unitedbusinessmedia.com.
About EDGAR Online, Inc.
EDGAR Online, Inc. (Nasdaq: EDGR) is a leader in the
distribution of company data and public filings for equities,
mutual funds and a variety of other publicly traded assets. We
deliver our information products directly to end users via online
subscriptions and data licenses, and to redistributors who embed
our content in their own and their clients' Web sites.
Our proprietary automated systems allow for the rapid conversion
of data and we are a pioneer and leader in the global financial
reporting standard—eXtensible Business Reporting Language,
otherwise known as XBRL. We use our automated processing platform
and our expertise in XBRL to produce both datasets and tools and to
assist organizations with the creation, management and distribution
of XBRL financial reports. For more detailed information on all of
our businesses or to contact us please visit our Web site at
www.edgar-online.com.
Use of Forward-Looking Statements
This press release may contain "forward-looking statements" as
defined in the U.S. Private Securities Litigation Reform Act of
1995. Readers are cautioned not to place undue reliance on these
forward-looking statements and any such forward-looking statements
are qualified in their entirety by reference to the following
cautionary statements. All forward-looking statements speak only as
of the date of this press release and are based on current
expectations and involve a number of assumptions, risks and
uncertainties that could cause the actual results to differ
materially from such forward-looking statements. Readers are
strongly encouraged to read the full cautionary statements
contained in EDGAR Online's filings with the SEC. EDGAR Online
disclaims any obligation to update or revise any forward-looking
statements.
EDGAR® is a federally registered trademark of
the U.S. Securities and Exchange Commission. EDGAR Online is not
affiliated with or approved by the U.S. Securities and Exchange
Commission.
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MEDIA
CONTACTS:
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PR
Newswire
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Rachel
Meranus
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201.360.6776
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rachel.meranus@prnewswire.com
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EDGAR
Online
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Sue
Childs
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203.852.5669
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schilds@edgar-online.com
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SOURCE PR Newswire