Tegna, Cox, Scripps and Fox Settle Up with Justice Department
/The Justice Department says that it has reached settlements with CBS, Cox, Scripps, Fox and Tegna in its ongoing investigation of the broadcast TV ad market and the exchange of competitively sensitive information.
B&C reports that the agreement settles a suit by Justice, which had alleged the broadcasters, and in the case of Cox its Cox Reps ad rep firms, illegally shared information that harmed the spot ad market.
“The Antitrust Division’s efforts to protect competition in the television broadcast industry continue with today’s settlements that will stop the unlawful exchange of competitively sensitive information among rival broadcasters and their sales rep firms,” said Assistant Attorney General Makan Delrahim who heads up the antitrust division. “Vigorous competition among broadcast stations allows American businesses across the country to obtain competitive advertising rates. The unlawful sharing of information reduced that competition and thereby harmed businesses that rely on competitive rates to best serve their customers.”
Delrahim warned last fall that “agreements between competitors to exchange competitively sensitive information can violate the antitrust laws and lead to a civil enforcement action even if the conduct does not amount to the type of hard-core cartel conduct that the Antitrust Division prosecutes criminally.”
A deal on the same matter was reached earlier with Sinclair, Raycom, Tribune, Meredith and Nexstar.
None of the media companies had to pay a fine, so basically it was just a slap on the wrist.