Post-publication, I had an additional thought about the SEC's recent "Netflix Patch" with regard to fair disclosure of material information on social media.
It's easy for folks to look at this announcement as the death of the wire services. But here's one thing those services offer that, say, an IR blog or a corporate Facebook account does not: data integrity. You transmit that earnings announcement on a wire service and, short of an additional transmission, you can't really modify what you've said--that toothpaste has left the tube. You put up a Tweet, it can be deleted. A Facebook post can be modified. It takes more sophistication than the average investor has to determine what occurred to the original post. There isn't a lot of confidence, then, that what you saw was the same thing that someone else did.
This highly important point is relegated to the second-to-the-last paragraph in an eight-paragraph announcement from BusinessWire.
Still, I don't really expect this advantage to last very long. Just as we have certificate authorities for domain validation and such, I could see something similar for certifying the reliability and permanence of content on a company's owned and social Web presences.