Tim O'Brien, principal with the Pittsburgh-based PR agency O'Brien Communications, was representing a computer services company three years ago when the firm had to
release information concerning a "material disclosure," or heavy corporate expense.
The publicly traded company had a little wiggle room and wanted to distribute the press release on a Friday evening following the market close, which still would have been in
advance of the "material" event. Nonetheless, O'Brien raised a red flag about the timing, thinking both about the media as well as legalities.
"I advised them against it and told them they should be able to give reporters a fair chance to cover the story," he says, adding that he also stressed to his client that if
the press release was issued on a Friday after the market close reporters covering the company may have to resort to contacting sources (that weekend) who might not know the firm
as well as its managers (who might be difficult to find on the weekend).
The company's CEO ultimately followed O'Brien's advice, releasing the information early on a Friday morning, resulting in fair and accurate coverage. "It's much better to
accommodate the media and release [bad news] during normal business hours," says O'Brien. "They'll reward with you fair and balanced treatment rather than creating skepticism from
releasing bad news late on a Friday, which is only going to prompt more questions. On the other hand, you can't led the media's deadlines be your deadlines."
Before cable news, the Internet and the onslaught of self-styled media mavens, releasing bad news at the end of the workweek was a popular page from the corporate playbook. And
many times it worked, as the bad news slipped through the media cracks. That's because up until several years ago, newsrooms were considerably less occupied on weekends than
during the week, and there were far fewer hands to get the news out (and do the requisite follow-ups). The option may still have its place. Depending on the severity of the news,
a press release issued on a Friday may get the same blip in the media on Saturday as it would on Tuesday.
But in the current 24/7 news environment companies that put out bad news at the end of the week now run the risk of being seen as trying to dodge the media and, indirectly,
(increasingly media-savvy) consumers.
Still, old [media] habits die-hard. Jonathan Bernstein, who runs Bernstein Crisis Management in Los Angeles, says about 10% of his clients still believe releasing bad
news late on a Friday is an effective PR technique. "It might work for a local company with very local interests, but even small-town newspapers now have the mentality that if
they don't get you on Saturday they'll get you on Monday," he says.
Bernstein is able to disabuse most of his clients of the notion that releasing bad news late on a Friday is a good idea PR-wise. "I tell them that if they have bad news, just
bite the bullet and try to put it out in the best possible light," he says. By releasing negative news so close to the weekend, "you take a story that should probably be beneath
the fold on page three and possibly turn it into an above the fold story on page one."
Indeed, by releasing negative news on a Friday companies turn what should often be a one-day story into a five-day saga. For that reason alone, the late-Friday news release can
be counterproductive, says Bruce Rubin, a PR consultant and founder of Miami-based RBB Public Relations, which specializes in litigation and crisis PR. "It can also damage
your relationship with the media," he adds. "If they get a sense you are trying to snooker them, it's only going to make them angry and more suspicious and that's not good
PR."
To avoid such traps, it's good practice for companies to have a standard time of day to issue press releases, says Ernie Knewitz, senior VP of corporate communications
at Euro RSCG Life NRP (New York). "I tell companies to try and avoid Fridays and do it on Monday morning instead, unless there are some Securities and Exchange
Commission (SEC) issues, which sometimes makes it unavoidable."
He also recommends that whenever a press release is distributed PR departments make sure they're available for follow-ups from the press. "Who wants to stay late Friday
answering questions? And if you don't make yourself available for the bad news, reporters may not be around for the good news."
Mark Scott, VP/marketing for Atlanta-based mortgage lender HomeBanc Mortgage Corp., adds that it's not necessarily when you release bad news, but how. "You need to say
here's the bad news and here's what we're doing about it," he says. "It won't save the day but it will minimize the damage."
CONTACTS: Jonathan Bernstein, 626.305.9277, [email protected]; Ernie Knewitz,
212.845.4253, [email protected]; Tim O'Brien, 412.854.8845, [email protected]; Bruce Rubin, 212.373.6033, [email protected]; Mark Scott,
404.459.7452 [email protected]