The pair infamously fell out during the 2002 World Cup but McCarthy says they now get on.
McCarthy believes the media stoked the fires of controversy following the defeat in Manchester.
"You can form people's opinions for them. You will get some that are so far off the wall it is unbelievable, and then you will get Premier League managers' which are more sensible," he said.
"Then they go and ask Roy Keane and he says 'Mick was dead right - absolutely', but they would have loved him to disagree with my decision. That was never going to happen.
"Despite what people think, myself and Roy talk about players, loans and whatever we are doing. We have a respect for each other in football terms. Some of the coverage was a whole pile of nonsense."