When Herbert Moore was laid off by CBS in 1934, he got an idea: Why not set up a service to supply news copy for radio-station broadcasts? At the time, network radio stations were limited by the big press services to only two five-minute broadcasts a day, and most stations had only the sketchiest of news-writing services. Moore, a former United Pressman, raised $150,000, founded Transradio Press Service in Manhattan to supply news to radio stations by teletype and shortwave. Transradio prospered; by 1939 it had 400 radio and newspaper clients, 600 correspondents...
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