While President Donald Trump's war with the networks dominates the headlines, a far more consequential fight is unfolding in a Lower Manhattan courthouse. At stake? The economics of journalism itself, and the war is sparking options traders' interest. On Friday, newly unsealed statements from Microsoft and OpenAI executives threatened the "fair-use" defense in the New York Times lawsuit. The defense rests on showing that the accused product is neither a substitute for nor a direct competitor to the source work.
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