MEDIA

U.S. News Transcript Sellers Reach FTC Accord: The Federal Trade Commission has approved an agreement with the nation’s two largest producers of verbatim news transcripts to settle charges the firms had entered into an anti-competitive arrangement. The FTC said the agreement with Reuters America Inc. and Federal News Service Group Inc. did not constitute an admission of any violation of law. Both companies said they entered the consent agreement to avoid costly litigation. Washington-based FNS denied there were any anti-competitive results from an agreement between FNS and New York-based Reuters. Both Reuters and FNS produce fast-turnaround transcripts of public events. The transcripts are sold to subscribers.