FNS produces on-demand verbatim transcripts of newsworthy events in DC (including speeches, congressional hearings, and interviews) for its clients.
[1] FNS "is one of the chief sources of transcripts from presidential appearances and Capitol Hill events".
"[3] The creation of the Federal News Service filled a market niche; The New York Times' wrote in 1987 that "this high-technology transcription company with a low public profile has quickly, and quietly, made itself indispensable to news organizations, many branches of Government and even foreign governments by covering news conferences, briefings and other sessions among Washington's comment mills: the press offices and public affairs offices of the departments of State and Defense, the White House, Congress and television talk shows.
[5] In August 2010, it was reported that FNS had been purchased by the Minnesota-based Dolan Company, a publisher of business journals and trade media.
[2] On December 1, 2014, CQ Roll Call announced that it was acquiring FNS from Dolan for an undisclosed sum.