Cox Media Group LLC, Fox Corp and CBS Corp have agreed to pay a combined $48 million to resolve civil antitrust claims in U.S. Court that accuse them of a conspiracy to artificially fix the prices of spot advertising on broadcast television.
Cox has agreed to pay $37 million to settle class-action claims brought on behalf of an advertising company and a small heating and cooling business, the plaintiffs’ lawyers said in a filing on Friday in U.S. District Court for the Northern District of Illinois.
Fox will pay $6 million, and CBS, now known as Paramount Global, will pay $5 million, the court filing showed. Both companies reached deals in late 2021, but the terms were not immediately revealed then.
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