FCC ORDERS GAG RULE ON FOX CASE

     As federal regulators expanded their probe into charges that
Fox Broadcasting's TV stations are "illegally controlled," a gag
order was placed on those involved in the case.  The FCC issued a
"formal gag order" to Fox execs and their attorneys as well as to
the NAACP New York Chapter.  The order "highlights both the high-
profile nature of the dispute and the political stakes for the
FCC" (Paul Farhi, WASHINGTON POST, 12/8).  The NAACP challenged
Fox's New York license, "arguing Fox is a foreign-owned company"
in violation of FCC policy (Bill Carter, N.Y. TIMES, 12/8).  NBC
launched a similar challenge last week.
     STOCK WATCH:  News Corp.'s shares fell to a two-year low
amid "uncertainty" over NBC's challenge (AP, 12/8).