View source for Comtex

{{Short description|Online business news distributor}}
{{Infobox company
| name      = Comtex News Network, Inc.
| logo      =
| type      = [[Public company|Public]]
| traded_as = {{OTC Expert|CMTX}}
| foundation = {{start date and age|1980}} (incorporated as Academic Micropublishing Company in New York)<ref>[https://www.sec.gov/Archives/edgar/data/352988/0000/352988-96-000020.txt Comtex News Network-SEC Annual Report on Form 10-K405 for the year ended June 30, 1996]</ref>
| location   = [[New York City]], United States
| key_people = Kan Devnani ([[President (corporate title)|president]] and [[Chief executive officer|CEO]])
| industry = [[News]], [[Internet]], Financial Information Services
| products = Custom newswires, electronic news feeds, stock trend information, electronic newsletters
| homepage = {{url|http://comtex.com}}
}}
'''Comtex News Network, Inc.''' is a distributor of news on the Internet, specializing in the business and [[financial market]] sectors.<ref>{{Cite web |title=COMTEX News Network, Inc. (CMTX) Company Profile & Facts - Yahoo Finance |url=https://finance.yahoo.com/quote/CMTX/profile/ |access-date=2023-12-26 |website=finance.yahoo.com |language=en-US}}</ref> The company is a wholesaler of electronic real-time news and content gathered from thousands of sources, including national and international news bureaus, agencies and publications (including [[Business Wire]], [[Dow Jones Newswires]], [[The McClatchy Company]], [[PR Newswire]] and [[United Press International]]).
==History==
Comtex was incorporated in New York in 1980<ref>{{Cite web |title=COMTEX News Network, Inc. (CMTX) Company Information |url=https://simplywall.st/stocks/us/media/otc-cmtx/comtex-news-network/information |access-date=2023-12-26 |website=Simply Wall St |language=en}}</ref> and operated under the name Academic Micropublishing Company, Inc. until 1981, when the name was changed to Comtex Scientific Corporation. From 1989 until 1991 Infotechnology ("Infotech"), a Delaware business development corporation, then principally engaged in the information and communications business, acquired majority ownership of Comtex.<ref>[https://www.sec.gov/Archives/edgar/data/352988/0000352988-96-000020.txt Comtex History]</ref> From 1991 until 2006 AMASYS Corporation, a successor in interests to Infotech, held a majority ownership position, via a combination of stock and debt. In 2006 Comtex repaid all of its outstanding long-term debt and AMASYS sold all its shares.<ref>{{Cite web |title=t60542_10ksb.htm |url=https://www.sec.gov/Archives/edgar/data/352988/000118811207002880/t60542_10ksb.htm |access-date=2023-12-26 |website=www.sec.gov}}</ref><ref>{{Cite web |title=Cutting-edge Trading With Comprehensive Risk Management |url=https://fxibot.com/ |access-date=2024-11-17 |language=en}}</ref> In late 1999 Comtex changed its name to Comtex News Network, Inc.<ref>{{Cite web |title=COMTEX Changes Name to COMTEX News Network |url=https://www.infotoday.com/it/jan00/news1.htm |access-date=2023-12-26 |website=www.infotoday.com}}</ref>
In 2004 [[Chip Brian]] joined Comtex as VP, Operations and was named President in 2005 and CEO in 2006.<ref name="econtentmag.com"/> A new management team was charged with the reducing debt, strengthening the company's financial base and diversifying product lines.
==Consistency==
Comtex enhances and standardizes the content received from such sources in order to provide editorially consistent and technically uniform products to its customers.  Its processing includes adding stock ticker symbols, indexing by keyword and category and converting diverse publisher materials and formats into the industry standard delivery format [[NewsML]], an [[XML]] derivative.{{cn|date=February 2018}}
==Product areas==
The company's product lines include '''''CustomWires''''', subject-specific newswires including energy, finance, international and public company information; Comtex '''TopNews''', comprising several categories of editorially selected news stories of the day; Publisher '''Full Feeds''', which are deliveries from specific publishers providing their content offerings; and '''''SmarTrend''''', based on proprietary [[time-series]] [[pattern recognition]] analysis.<ref name="econtentmag.com">{{Cite web |last=Pulizzi |first=Joe |title=Digital Content News for Content Creators & Entrepreneurs |url=https://www.thetilt.com/ |access-date=2023-12-26 |website=The Tilt |language=en-US}}</ref> Comtex clients include information distributors such as [[MarketWatch]], [[Factiva]], [[Bloomberg L.P.|Bloomberg]], and [[Reuters]], websites, corporate intranets and market data applications.
==Business structure==
Consistent with standard practice in the information aggregation industry, Comtex generally has renewable long-term contractual relationships with those information providers and information distributors with which it does business.  Comtex generates revenues primarily from charges to distributors for the licensing of enhanced content, including ''CustomWires'', TopNews products and publishers' full feeds. Royalties are based upon the customers' business and revenue models such that success in their chosen markets generates increasing revenues for Comtex. Fees and royalties from information distributors comprise the majority of Comtex's revenue. Comtex operates and reports in one segment, business information services.<ref>{{Cite web |title=t60542_10ksb.htm |url=https://www.sec.gov/Archives/edgar/data/352988/000118811207002880/t60542_10ksb.htm |access-date=2023-12-26 |website=www.sec.gov}}</ref>
==References==
{{Reflist}}
==External links==
*[http://www.comtex.com Official Website]
[[Category:Companies traded over-the-counter in the United States]]
[[Category:American financial news websites]]