This is a shame as News Releases are often the best quality and most frequently updated content on a corporate site.
I recall David Meerman Scott, author of the book "The New Rules of Marketing & PR" (which sits on my desk at a client's office), commenting in a recent podcast that
News Releases are still powerful and effective channel to reach the media
According to him studies show that a higher level of education you have, the less likely you are to click on adverts - therefore organic content such as your press releases becomes more important to a more intellectual audience.
As the Press Release also evolves as within the digital space, e.g. into the Social Media Press Release, its important to remember that quality still matters!