US DOJ investigates ABC, CBS, CNN, NBC and Fox News over White House press pool boycott

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Summary · why it matters

The US Department of Justice said on Saturday, October 10, that it is examining whether major US television networks violated federal antitrust law after they jointly boycotted participation in the White House rotating press pool, in retaliation for the administration's revocation of press credentials from three news organizations, including CNN. The five major television networks targeted by the investigation are ABC, CBS, CNN, NBC and Fox News. A Justice Department spokesperson said in a statement that coordinated boycotts among competing businesses may constitute a violation of the Sherman Antitrust Act, and the Antitrust Division is gathering facts to determine whether these media organizations did in fact breach antitrust law. Normally, CNN is one of five television networks, alongside ABC, CBS, Fox News and NBC, that jointly operate the White House television press pool, a arrangement in which they share costs and take turns sending crews to record the president's activities in restricted spaces before distributing the feed to television stations nationwide. After the ban order on September 19, all five networks, including Fox News, jointly suspended their participation in the television press pool entirely and refused to send crews to fill in. Then on September 24, Timothy Kelly, a US federal district judge, ruled that the White House's press exclusion order was likely unconstitutional and issued an order requiring the administration to immediately restore access and press credentials to the journalists.

Impact on assets 4

Communication Services▼
Fox Corp Class A
FOXA
▼ NegativeRegulationrelevance

DOJ antitrust probe examines Fox News's participation in the joint press pool boycott.

Cloud & Digital Infrastructure▼
Comcast Corp
CMCSA
▼ NegativeRegulationrelevance

DOJ antitrust investigation targets NBC (Comcast-owned) over the coordinated press pool boycott.

Others▲

Off-coverage companies 2

CNNi
Private▼ NegativeRegulationrelevance

CNN is a named target of the DOJ antitrust investigation into the coordinated press pool boycott.

CBSi
Private▼ NegativeRegulationrelevance

CBS is among the five networks under DOJ antitrust scrutiny for the joint press pool boycott.