Herbert Muschel, passed away on November 1, 2003 at 85. In 1954, he founded PR Newswire, a cutting edge service that distributed corporate financial news at a time when the Federal Communications Commission allowed only AT&T and Western Union to send printed messages to a third person. With this direct-to-the-newsroom service, press releases were treated as breaking news for the first time. Today, PR Newswire uses the latest technology to deliver corporate news worldwide to the media, investors and general public.