CBS, Fox, Cox to Pay $48 Million in Price-Fixing Settlement (1)

CBS Corp., Fox Corp., and entities tied to Cox Media Group have agreed to pay a combined $48 million to settle claims that they artificially inflated the price of broadcast television spot advertisements.

The proposed settlement, filed May 26 in the US District Court for the Northern District of Illinois, comes five years after local businesses first accused the broadcasters of a price-fixing scheme in violation of the Sherman Act.

The Cox entities will pay $37 million to settle the claims, while Fox will be on the hook for $6 million and CBS for $5 million.

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