It depends on what you mean by "news agency." Are you referring to something like AP, Reuters, network news, etc.? The first main difference is the medium. Being a reporter for print is very different from being a reporter for broadcast. Basically, it's how you tell the story. Many news outlets use the same sources for their stories, but if you read the story in the newspaper, watch the story on the nightly news, or hear the story on the radio, you will see the differences in what is emphasized and what is left out. Working in print you have the luxury of including much more detail than you do in broadcast. Most reporters in print usually are "beat" reporters and focus on one specific area of news, i. e. sports, money, politics, etc. Many broadcast reporters are general assignment reporters and cover whatever the breaking story is of the day.
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Agencies gather, organizations report.
News organizations are generally smaller entities that bring news to the public via media outlets. Examples include: newspaper companies, TV news stations, and internet websites.
News agencies are larger bodies of journalists whose collective job is to gather newsworthy stories, sometimes from around the world; the agencies then sell those stories to subscribing news organizations. News agencies can also collect and redistribute stories to other outlets.
A news agency is a company that gathers and distributes news content to other organizations, while a news organization is a company that produces its own news content for dissemination to the public. News agencies often act as sources for news organizations, providing them with articles, images, and videos for publication.