Cox Media Group, Other Broadcasters Agree to Pay $48 Million to Resolve Price-Fixing Claims

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.

Read the source article at money.usnews.com