|Bid||0.00 x 0|
|Ask||0.00 x 0|
|Day's range||0.00 - 0.00|
|Beta (5Y monthly)||0.54|
|PE ratio (TTM)||0.07|
|Forward dividend & yield||N/A (N/A)|
|1y target est||N/A|
Cox Media Group LLC, Fox Corp and CBS Corp have agreed to pay a combined $48 million to resolve civil antitrust claims in U.S. Court that accuse them of a conspiracy to artificially fix the prices of spot advertising on broadcast television. Cox has agreed to pay $37 million to settle class-action claims brought on behalf of an advertising company and a small heating and cooling business, the plaintiffs' lawyers said in a filing on Friday in U.S. District Court for the Northern District of Illinois. Fox will pay $6 million, and CBS, now known as Paramount Global, will pay $5 million, the court filing showed.
The settlement, reached on Tuesday, provides for the dismissal of the case in exchange for the payment to Paramount, according to a Securities and Exchange Commission filing published on Friday. CBS shareholders filed three separate suits, which were later consolidated, alleging the company had overpaid for Viacom, clearing the way for media mogul Shari Redstone to reunite the family's media holdings. Paramount reached a $122.5 million settlement in March with Viacom shareholders that also stemmed from the merger.
ViacomCBS rebranded itself as Paramount Global (NASDAQ: PARA) last February. Paramount's stock has declined 27% since then, mainly due to concerns about the macro headwinds for its advertising business and its streaming losses. In 2022, Paramount generated 72% of its revenue from its TV Media segment, which houses CBS, The CW, Showtime, Comedy Central, Nickelodeon, BET, and other networks.
(Reuters) -CBS Corp and former Chief Executive Leslie Moonves agreed on Wednesday to pay investors an additional $9.75 million to settle the New York attorney general's allegations that the company sought to cover up sexual assault claims against Moonves, including by colluding with a California police officer. New York Attorney General Letitia James announced the settlement under which CBS, now known as Paramount Global, will pay $7.25 million and Moonves will pay $2.5 million to shareholders. "As a publicly traded company, CBS failed its most basic duty to be honest and transparent," James said in a statement.