FOX, CBS, And Cox All Agree To Pay $48 Million To Settle Claims That They Fixed The Prices Of TV Ads

ABC, CBS, FOX, and NBC station owners in the same area recently agreed to settle a case that said they worked together to set and raise the prices of TV spots.

A report online says that the settlement from this lawsuit includes people and businesses that bought TV spot ads from CBS, Cox Media, Dreamcatcher Broadcasting, FOX, Griffin Communications, Meredith Corp., Nexstar Media, Raycom Media, E.W. Scripps, Sinclair Broadcast, TEGNA, Tribune Broadcasting, and/or Tribune Media in certain market areas from January 1, 2014, to December 31, 2018.

This case was about locally sold TV spot ads, not ads that the networks themselves sell across the country. During a commercial break, some ad spots are usually set aside for local TV stations to sell. Other spots are sold by the networks.

The defendants decided to pay $48 million to settle the claims, but they didn’t say they did anything wrong. Fox will pay $6 million, Cox will pay $37 million, and CBS decided to pay $5 million.

Sinclair and Nexstar have told Cord Cutters News that they are involved in this case, but they have not agreed to this deal. The case is still going on in court. Fox, Fox, and CBS were the only ones who decided to pay $48 million.

People who want a piece of this settlement must make their claim before October 26, 2023. Find out more about this case settlement HERE.

It’s important to note that local TV ads have been hit hard by the general drop in advertising in 2023. It’s still hard for local TV stations to fill ad spots, even though there are more places to put them than ever before.

FOX, CBS, And Cox All Agree To Pay $48 Million To Settle Claims That They Fixed The Prices Of TV Ads

ABC, CBS, FOX, and NBC station owners in the same area recently agreed to settle a case that said they worked together to set and raise the prices of TV spots.

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