Once upon a time, before the Internet was a go-to resource, when postal mail and faxes were key ways to disseminate detailed information to journalists, the press release was essential.
Those days are long gone because:
The SEC has even announced that information can be released via social media, provided investors know where to look and it’s not restricted.
“Most social media are perfectly suitable methods for communicating with investors,” George Canellos, acting director of the SEC’s Division of Enforcement, said in a press release (old habits die hard). Of course, check with your lawyer before exclusively tweeting out your next big company announcement.