I wonder if various students did the captioningIt's possible. But there are plenty of companies that do subtitle transcription pretty cheaply.
Local TV newscasts used to pipe the scripts from their TelePrompTers into the closed captioning encoder, but that wasn't good enough when the law changed in the late 90's because then there wasn't any text for interviews or weather segments.
Now you can hire a company like Denver Caption that will have someone dial into a special phone line at the TV station and transcribe the content in real time, sending it directly back to the station's encoder.
This is why when more than one person is talking, you can see in the text how the person captioning gets overloaded. Or they might use the wrong form of a word or phrase that would be easy to pick if someone was watching video, but easy to get wrong if they're only listening to audio over a phone line.