Generally speaking, the holidays are not the best time to send out press releases and news from your organization. For the obvious reason, reporters, editors and producers are on vacation and staffs are thin.
However, since other pr professionals are saving their news for after the holidays, local news stations and newspapers do still need news. If you’ve got something light and breezy (entertainment, events, etc.), you might consider scheduling events on a holiday – and you’ll have no competition from other pr folks!