Dow Jones is suing Ransquawk, a London-based news service that delivers real-time updates on financial markets. In the suit, Dow Jones accuses Ransquawk of illegally accessing one of the company’s financial news and analysis products.
What may sound familiar in this case is that Dow Jones is accusing Ransquawk of hot news misappropriation. It’s a doctrine some media companies are fond of, arguing that publishers should have a limited monopoly over news they’ve reported because of the time and resources they’ve put into reporting. Last year, the Associated Press settled a similar case against news-monitoring service Meltwater. A federal judge had initially ruled in the AP’s favor.
In the news release announcing the suit, Dow Jones doesn’t mince words in its accusations
Since Ransquawk doesn’t engage in much newsgathering, they take content from news organizations like ours in order to produce their squawks and headlines. They’re systematically copying, pasting, and selling our journalists’ work. They don’t have permission to do this, but from their response to our cease and desist letter, they don’t seem to care.
Full lawsuit here.