This article explores the changes in news agency mechanisms that accompanied the restructuring of Europe after World War I. During the interwar period, a new form of negotiation replaced the pre-World War I conception of English, French and German spheres of influence with a more cooperative vision of the collection and dissemination of news. I argue that the private and business-oriented nature of news agency cooperation enabled it to outlast better-known political attempts at multilateralism. Indeed, it often produced more concrete results by offering different incentives for cooperation to all involved from large global agencies, such as Reuters, down to the small agencies of new Central and Eastern European nation-states. Overall, the agencies' cooperation until the outbreak of World War II suggests alternative periodizations of the interwar period than the division into a fairly internationalist 1920s followed by the increasing bilateralism of the 1930s.