FOX TO INVEST $20 MILLION IN MINORITY-OWNED STATION GROUP

     News Corp.'s Fox TV Station unit, which has been sparring
with the NAACP over the legality of Fox's station ownership, said
it will invest as much as $20M for the formation of a black-owned
station group.  The new company, Blackstar Communications LLC.,
plans to purchase stations that will switch their affiliations to
Fox.  In filings with the FCC, the NAACP has contested Fox's
right to its eight TV station licenses, "arguing that the company
is controlled by Australian-based News Corp. and thus is
violating restrictions on foreign ownership of broadcast
properties."  The NAACP argues that by not enforcing the foreign
ownership restrictions, the FCC limits the properties available
to minorities (Elizabeth Jensen, WALL STREET JOURNAL, 10/10).