Not in real world, it is called plagiarism coping one's property and present it like own. I don't even comprehend the morality and the ethic one has to do that and feel peace about it.
It is very easy to ask permission to borrow and that is the right thing to do than just hijacking it.
It does not "border on", it is theft- plain and simple. That is why there are laws prohibiting plagiarism. I rate "spinning" in the same class, just more devious. Be original, be authentic
The norm is to ALWAYS credit the source. No exception.
Without exception plagiarism is Stealing, although since all press releases are published to many places, I expect there is little thaat can be done to stop these thieves