Reuters first with crucial details of General Motors IPO

Reuters was first to report on July 2 that the prospectus for the initial public offering of General Motors, a nearly $20 billion IPO, would be filed in mid-August, later than many media reports had previously stated. Reuters was also first to report that four banks – Bank of America, Citi, JPMorgan and Morgan Stanley — had agreed to provide $500 million each as part of a $5 billion credit line for the U.S. automaker, and that the credit line would likely be finalized in the next two weeks. Many news sites around the world, including New York Times Dealbook and Dow Jones, picked up the Reuters story.