OLD Media Moves

Fox Business wins FOI lawsuit

February 20, 2009

Fox Business Network has won its lawsuit against the U.S. Treasury Department over failure to respond to its Freedom of Information Act requests.

The decision was delivered earlier Friday by U.S. District Judge Holwell who ordered the Treasury to comply with the FOI requests within 30 days, or by March 23, as well as stated that the Treasury must provide a Vaughn Index to Fox Business by April 6.

“We’re thrilled that this information is finally, and rightfully, going to be made available to the American public,” said Fox News executive vice president Kevin Magee in a statement. “Fox Business Network, as a news organization, believes it’s important to hold the government accountable, especially for use of the bailout funds during this time of steep economic crisis.”

The initial request, filed in November, sought actual data on the use of the bailout funds for American International Group and the Bank of New York Mellon, and an additional request, filed on Dec. 1, sought similar data on the bailout funds for Citigroup Inc.

Fox Business has been asking for the Treasury Department to identify, among other issues, the troubled assets purchased, any collateral extended, and any restrictions placed on these financial institutions for their participation in this program. The FOI complaint was filed by Fox News Network, LLC, as owner of Fox Business Network.

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