on Newsmax Inc. (NASDAQ:NMAX)
Newsmax Initiates Antitrust Lawsuit Against Fox News
In a significant legal move, Newsmax Inc. has filed a federal antitrust lawsuit against Fox News, claiming unlawful market practices. The suit, handled by Kellogg, Hansen, Todd, Figel & Frederick, accuses Fox of anti-competitive strategies to suppress rivals like Newsmax in the right-leaning TV news sector.
Newsmax seeks damages under the Sherman Act and Florida laws, with potential significant financial implications for Fox if Newsmax succeeds. The complaint alleges Fox coerced distributors and restricted fair competition, impacting consumer choices and prices.
Fox’s tactics reportedly included no-carry provisions and financial penalties for distributors, forcing them to include less popular Fox channels. Newsmax claims these practices hindered its growth on platforms like Hulu and Sling, impacting its market reach and revenues.
The lawsuit underscores broader impacts on competition and consumer choice, highlighting potential price increases and limited alternative news options due to Fox's alleged market dominance.
R. H.
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