DOJ in Proposed Settlements With CBS, Fox, Tegna, Cox and Scripps on Information-Sharing

Date : 06/18/2019 @ 1:39AM
Source : Dow Jones News
Stock : Twenty-First Century Fox - Class B (FOX)
Quote : 36.69  -0.35 (-0.94%) @ 1:00AM

DOJ in Proposed Settlements With CBS, Fox, Tegna, Cox and Scripps on Information-Sharing

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   By Josh Beckerman 
 

The U.S. Justice Department said it reached proposed settlements with five television station owners to resolve a lawsuit about the sharing of sensitive information including "revenue pacing" details.

The DOJ said CBS Corp. (CBS), Fox Corp. (FOX, FOXA), Tegna Inc. (TGNA), Cox Enterprises Inc. and E.W. Scripps Co. were added as defendants in a second amended complaint against Sinclair Broadcast Group Inc. (SBGI).

Fox Corp. and Dow Jones parent News Corp. (NWS, NWSA, NWS.AU) share common ownership.

The DOJ said that by exchanging revenue-pacing information, broadcasters "were better able to anticipate whether their competitors were likely to raise, maintain, or lower spot advertising prices."

The proposed settlements "prohibit the direct or indirect sharing of such competitively sensitive information."

In November, several station owners agreed to settle charges they used third-party advertising sales rep firms to exchange information.

 

Write to Josh Beckerman at josh.beckerman@wsj.com

 

(END) Dow Jones Newswires

June 17, 2019 20:24 ET (00:24 GMT)

Copyright (c) 2019 Dow Jones & Company, Inc.

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