Also referred to as a news release, the press release is simply a written statement made by an organization or company and made available to the media in advance. There is a specific format in which press releases need to be written so that news media and reporters will be sure to have all the information they need to write a story on your product, idea, or company announcement. Some press releases are written well in advance of the actual event, and embargoed until the appropriate date, while others are made available for immediate release.