What is press release?

A news release, press release or press statement is a written or recorded communication directed at members of the news media for the purpose of announcing something claimed as having news value. Typically, it is mailed, faxed, or e-mailed to assignment editors at newspapers, magazines, radio stations, television stations, and/or television networks. Commercial newswire services are also used such as Eworldwire to distribute news releases. Sometimes news releases are sent for the purpose of announcing news conferences.
A news release is different from a news article. A news article is a compilation of facts developed by journalists published in the news media, whereas a news release is designed to be sent to journalists in order to encourage them to develop articles on the subject. A news release is generally biased towards the objectives of the author.
The use of news releases is common in the field of public relations, the aim of which is to attract favorable media attention to the PR firm's client, and publicity, the aim of which is to attract favorable media attention for products marketed by the client.
Origins
The press release was first introduced in 1906 by Ivy Lee,[citation needed] who is often referred to as the first real public relations practitioner. At that time, Lee's agency was working with the Pennsylvania Railroad, which had just fallen victim to a tragic accident. Ivy Lee convinced the company to issue the first press release to journalists, before other versions of the story, or suppositions, could be spread among them and reported. He used a press release, in addition to inviting journalists and photographers to the scene and providing their transportation there, as a means of fostering open communication with the media.

[edit] Elements
While there are several types of press releases (such as general news releases, event releases, product press releases, and more recently social media press releases), press releases very often have several traits of their structure in common. This helps journalists separate press releases from other PR communication methods, such as pitch letters or media advisories. Some of these common structural elements include:

Headline - used to grab the attention of journalists and briefly summarize the news.
Dateline - contains the release date and usually the originating city of the press release.
Introduction - first paragraph in a press release, that generally gives basic answers to the questions of who, what, when, where and why.
Body - further explanation, statistics, background, or other details relevant to the news.
Boilerplate - generally a short "about" section, providing independent background on the issuing company, organization, or individual.
Media Contact Information - name, phone number, email address, mailing address, or other contact information for the PR or other media relations contact person.