As of next Monday, 30 July, Sun Microsystems will start releasing key corporate news over the Internet, via the company's website and RSS-feeds. It's thought to be the first time a US company has been allowed to use the web as it's main channel for price-sensitive information and follows protracted negotiations between Sun's CEO, Jonathan Schwartz and Christopher Cox, Securities and Exchange Commission chairman – made public on Schwartz's blog.

Financial Times has the background story. Here's Schwartz on the implications:

Referencing a dialog we've established with the United States Securities and Exchange Commission, and its Chairman Cox, this will place, for the first time, the general investing public - those with a web browser or a cell phone - on the same footing as those with access to private subscription services. In effect, driving an open dialog directly with investors, rather than routing information through proprietary sources. Open is as open does.

I believe this change will increase the transparency of our business, fulfill our desire to disseminate information on a fair and equitable basis, and allow the network to be used for what it's intended - connecting people and information... I wonder how far off we are from ceasing to issue traditional press releases altogether... after all, no news agency could possibly suggest they reach a greater portion of the planet than the internet.

Watch out for a brave new future where you get your press releases via RSS-feeds you subscribe to, rather than as a nuisance clogging up your email box. Okay, lots of companies are already using RSS to distribute press releases, but being able to distribute price-sensitive information this way: now that's a milestone.