Newsmax claims Fox News is an illegal monopoly

Newsmax claims the competitor illegal blocks competition .

Transcript

00:00Newsmax is taking Fox News to court. The conservative news network filed an antitrust lawsuit in

00:06a Florida federal court Wednesday, claiming Fox used its dominance in right-leaning pay

00:11TV to pressure distributors into sidelining competitors, including Newsmax. CEO Chris

00:17Ruddy says Fox profited for years from intimidation and exclusionary contracts and that without

00:23Fox's practices, it would have achieved greater pay TV distribution, grown its audience and

00:28ratings sooner, gained earlier critical mass for major advertisers and become a more valuable

00:34media property. Fox pushed back, saying Newsmax cannot sue their way out of their own competitive

00:40failures in the marketplace to chase headlines simply because they can't attract viewers.

00:46Now for some perspective, Fox News averages roughly 3 million primetime viewers, while Newsmax draws

00:52less than 300,000. That's according to MSNBC. Newsmax is seeking monetary damages,

00:58and wants the court to block Fox from keeping what it calls exclusionary contracts. If successful,

01:04Fox could face triple damages under federal law. That'll do it for your daily briefing from

01:09the New York Stock Exchange. I'm Caroline Woods with The Street.