Dow Jones & Co has won a court order to stop the London-based service Ransquawk from broadcasting its news content within seconds of publication, without permission, to traders and other subscribers.
A Reuters story states, “It is unclear how the permanent injunction granted late Thursday by U.S. District Judge Jesse Furman in Manhattan will be enforced. This is because Ransquawk did not contest the January 9 lawsuit, prompting Dow Jones to seek a default judgment.
“The case by Dow Jones, a unit of News Corp, is one of a handful to invoke the ‘hot news’ misappropriation doctrine, where news providers try to stop aggregators from getting a ‘free ride’ on their journalism.
“Ransquawk, whose full name is Real-Time Analysis & News Ltd, operates a ‘squawk’ service that broadcasts audio and text feeds of breaking news, including market-moving news.
“Dow Jones accused Ransquawk of ‘nearly instantaneously cutting, pasting, and broadcasting’ content from DJX, a web-based platform bundling news from Dow Jones Newswires, The Wall Street Journal, Factiva and other sources. It said this allowed Ransquawk to offer a “pirated product” at a cheaper price.”
Read more here.
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