Company: FOX
Filing Date: 2025-02-04
Form Type: 10-Q
Source: 0001628280-25-003592
Chunk: 56

Company: Fox Corp
Filing Date: 2025-02-04
Form: 10-Q
Item: Part I, Item 8
Chunk 56
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 dismissal of the Campos lawsuit and settlement of the Gregory lawsuit. On January 24, 2025, the Illinois State Court entered a final order approving the Settlement and Release Agreement. The settlement will not have a material adverse effect on the Company’s business, financial condition, results of operations or cash flows. The Company intends to vigorously defend against any other actions and arbitration claims arising from the alleged misuse of personal information that have not been settled or resolved by the Gregory settlement. The Company is unable to predict the final outcome of these other actions and arbitration claims and has determined that a loss in these matters is neither probable nor reasonably estimable. There can be no assurance that the ultimate resolution of these matters will not have a material adverse effect on the Company’s business, financial condition, results of operations or cash flows.Venu SportsIn February 2024, FOX announced that it would enter into a joint venture with ESPN, a subsidiary of Disney, and WBD to form a digital distribution platform focused on sports called Venu Sports. On February 20, 2024, FuboTV Inc. and FuboTV Media Inc (collectively, “Fubo”) filed a lawsuit against Disney, ESPN, Inc., ESPN Enterprises, Inc., HULU, LLC, FOX and WBD in the U.S. District Court for the Southern District of New York (the “NY District Court”) alleging claims under federal and New York antitrust laws. The claims were based on theories that (i) Venu Sports will harm competition in alleged markets for the licensing of networks that offer live sports content and for streaming live pay tv, (ii) certain alleged practices by which FOX and Disney 

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FOX CORPORATIONNOTES TO THE UNAUDITED CONSOLIDATED FINANCIAL STATEMENTS

(including its ESPN affiliates) license their networks to virtual multi-channel video programming distributors (“virtual MVPDs”) as a bundle increase prices and reduce output for services offered by virtual MVPDs, and (iii) certain alleged pricing provisions in the defendants’ carriage agreements with certain virtual MVPDs increase prices for services offered by virtual MVPDs. Fubo subsequently filed an amended complaint that added allegations relating to a purported market for “skinny sports bundles” that Fubo claimed Venu Sports will monopolize. Fubo sought compensatory damages, treble damages and an injunction to prevent the formation of the joint venture.Following a hearing on Fubo’s motion for a preliminary injunction, the NY District Court preliminarily enjoined the launch of Venu Sports on August 16