Celebrating our five-year birthday as a Berkshire Hathaway company on the occasion of our fiftieth anniversary year makes us want to run out and buy a lottery ticket with lots of “fives” as our quick picks.
Just 60 short months ago, on March 1, 2006, Business Wire joined Warren Buffett’s family.
Employees learned of the pending deal on January 16, 2006, when founder Lorry Lokey sent a company-wide email coauthored by BW CEO Cathy Baron Tamraz with the subject line: A Renaissance: A re-birth for Business Wire.
The classicly coy email, kept many of us on the edge of our seats as Lorry waited until the eighth paragraph to inform us:
“Many of you might have heard rumors these last few years that Business Wire might be for sale. It’s true that in order to ensure our future and continue what we’ve built, we have considered options such as a sale, merger, acquisition, etc. I am pleased to announce that Business Wire has been sold to Berkshire Hathaway and its leader, Warren Buffett.”
At 8:55 AM Eastern Standard Time on March 1, 2006, the news broke on Business Wire (of course) that Warren Buffett’s Berkshire Hathaway had bought Business Wire, making it a wholly owned subsidiary.