{"text":[[{"start":0,"text":"US press groups have filed a lawsuit against Donald Trump over his social media company’s decision to sell faster access to the president’s market-moving posts on Truth Social."}],[{"start":24.46,"text":"The Intercept Media and the Freedom of the Press Foundation on Wednesday filed in federal court seeking to prevent the president from posting official government information exclusively on Truth Social, which is run by Trump Media & Technology Group."}],[{"start":38.08,"text":"TMTG, which is owned by Trump through a trust, this month launched Truth API, a business that charges investors for privileged access to his social media posts."}],[{"start":48.48,"text":"The media groups alleged in the lawsuit that the service was both “profoundly corrupt” and unconstitutional. The lawsuit lists Trump and two senior advisers as defendants."}],[{"start":58.42,"text":"“The President stands to gain financially by giving ‘market-moving’ government information to those who are willing and able to pay his personal company,” the court papers filed in Manhattan district court said."}],[{"start":58.92,"text":"TMTG has said Truth API would deliver Trump’s posts to customers “milliseconds” before those posts reach the public."}],[{"start":76.52,"text":"TMTG shares fell more than 6 per cent on Wednesday. The White House did not immediately respond to a request for comment."}],[{"start":84.12,"text":"A TMTG spokesperson said: “Information from President Trump is disseminated by countless platforms and news outlets, many of which offer subscription APIs.”"}],[{"start":94.52,"text":"The spokesperson added that, “leftwing activists are trying to wrongfully weaponise the courts to censor him again and harm our shareholders”."}],[{"start":102.72,"text":"The lawsuit comes after TMTG advertised the API product to trading outfits and other Wall Street firms for up to $100,000 a month."}],[{"start":111.84,"text":"Trump’s posts on everything from the state of the war in Iran to which countries may be hit with tariffs have frequently spurred big market swings in commodities, equity indices and individual company stocks."}],[{"start":123.4,"text":"Both the Intercept and the FPF said they regularly cover Trump’s social media posts and now face “delayed access” to the announcements as well as “permanent bars to the president’s archived posts, making it harder for both organisations to do their jobs”."}],[{"start":137,"text":"TMTG interim chief executive Kevin McGurn told the FT last week that about 10 groups had signed deals for Truth API so far at a price of $60,000 to $100,000 a month."}],[{"start":150.32,"text":"TMTG was also working on “an expansion” of Truth API for retail investors and in “active conversations with hyperscalers, some of the largest news organisations and developers of large language models”, McGurn added."}],[{"start":162.8,"text":"The company reported a $238mn loss in the second quarter of this year."}],[{"start":169.36,"text":"Additional reporting by Kaye Wiggins"}],[{"start":177.12,"text":""}]],"url":"https://audio.ftcn.net.cn/album/a_1786580723_1578.mp3"}