FOX vs Nexstar Media Group

Fox Corporation Reports First Quarter Fiscal 2027 Financial Results

Fox Corporation announced its first quarter fiscal 2027 financial results on November 2, 2026.

8-K Financial Filing Analysis for FOX (2026-10-20)

Fox Corporation announced that Chief Legal and Policy Officer Adam Ciongoli will step down effective December 1, 2026, transitioning to a special advisory role for an 18-month term with an annual consulting fee of $1.75 million. In connection with his departure, Ciongoli entered into a separation agreement providing severance, COBRA coverage, and a cash payment of $12,595,784 in exchange for the cancellation of his outstanding equity awards. Nicholas Trutanich, currently Executive Vice President and Deputy General Counsel, has been appointed General Counsel effective December 1, 2026, receiving an annual base salary of $1.4 million, a target annual bonus of $1.4 million, and an annual long-term incentive target of $2.2 million.

• Adam Ciongoli steps down as Chief Legal and Policy Officer effective December 1, 2026, receiving an equity cash-out of $12,595,784 and an 18-month advisory contract paying $1,750,000 annually ($145,833.33/month).
• Nicholas Trutanich is promoted to General Counsel effective December 1, 2026, with a base salary of $1,400,000, target bonus of $1,400,000, and annual target equity award of $2,200,000.

Glee Reboot Coming to Disney+ and Hulu

Ryan Murphy's Fox series 'Glee' is getting a reboot, which will be available on Disney+ and Hulu. The announcement was made via an Instagram post on Wednesday, simply stating 'it's official Glee is returning.' No details were provided regarding a premiere date or how the new series will connect with the original. The original series ran for six seasons on Fox, starting in 2009. Ryan Murphy confirmed he has already written a script with Brad Falchuk and Ian Brennan, and has spoken to some cast members. According to Variety, Lea Michele will reprise her role as Rachel Berry, and Heather Morris has indicated her character Brittany S. Pierce will also return.

• A Glee reboot is coming to Disney+ and Hulu.
• The announcement was made via an Instagram post on Wednesday.
• No premiere date or plot details have been announced.

DIRECTV Accuses Nexstar of Illegal Price-Fixing

DIRECTV has filed a motion in the U.S. District Court for the Southern District of New York, seeking to compel Nexstar Media Group and its co-defendants to produce documents withheld under attorney-client privilege. The case, initiated in March 2023, alleges that Nexstar used sidecar stations Mission Broadcasting and White Knight Broadcasting to evade ownership limits and coordinated retransmission consent pricing through negotiator Eric Sahl. DIRECTV argues that Sahl shared confidential pricing information with Nexstar executives, constituting a horizontal price-fixing conspiracy violating the Sherman Act. The motion requests the court to apply the crime-fraud exception and award attorney's fees. A hearing is scheduled for November 4, 2026, before Magistrate Judge Robert Lehrburger.

• DIRECTV filed a motion on October 30, 2026, to compel Nexstar to produce documents in the price-fixing lawsuit.
• The lawsuit, filed in March 2023, alleges Nexstar used Mission and White Knight to evade ownership limits.
• DIRECTV claims Eric Sahl funneled confidential pricing information to Nexstar executives, including CEO Perry Sook.

FCC Lifts Ownership Cap, Accelerating Local TV Consolidation

The number of independent owners of local TV stations affiliated with ABC, CBS, Fox, and NBC has fallen from over 150 in 2006 to roughly 62 by 2023, with further declines since. This consolidation has concentrated control in the hands of three major companies: Nexstar Media Group, Sinclair Broadcast Group, and Gray Television. In a significant regulatory shift, the FCC voted on August 6, 2026, to eliminate the national audience-reach cap of 39%, replacing it with case-by-case reviews. This move, combined with the earlier approval of Nexstar's acquisition of Tegna, is expected to accelerate the acquisition of remaining independent affiliates by the top three broadcasters. The trend reduces the number of independent voices in local news, though proponents argue larger companies can better compete for advertising dollars against streaming and online platforms.

• Number of independent local TV owners fell from over 150 in 2006 to 62 by 2023.
• FCC voted on August 6, 2026, to eliminate the national audience-reach cap.
• Nexstar's acquisition of Tegna was approved earlier in 2026, giving Nexstar over 250 full-power stations.

Nexstar Media Group and DAZN Announce Agreement To Televise and Live Stream 15 Indiana Pacers Games for Fans Across Central Indiana

Nexstar Media Group, Inc. (NASDAQ: NXST) and DAZN, the world’s leading sports entertainment platform, announced an agreement to televise and live stream 15 Indiana Pacers games for fans across Central Indiana. Games will stream for free on DAZN and be broadcast over-the-air on Nexstar’s local TV stations in Indianapolis, Evansville, and Champaign, Illinois. First over-the-air broadcast will be October 23 when the Pacers take on the Dallas Mavericks.