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Streaming dominates the headlines, but little else grabs viewers' attention like live sports and events. These events' massive audiences give advertisers one of the most powerful platforms in media.

US President Donald Trump will sign the deal to divest TikTok's US operations from its Chinese owner ByteDance on Thursday, Reuters reported, citing a White House source with knowledge of the matter.  Last week, the US and China announced a framework agreement that would allow TikTok to continue operating in the US under American-controlled ownership.

Fox Corp and its subsidiary Fox News on Monday accused Newsmax of improperly lodging a new version of its antitrust case against Fox in Wisconsin, after a judge in Florida dismissed an earlier version of the case.

Fox Corp (NASDAQ:FOXA) gained on Monday after President Trump said in a weekend interview that chairman Rupert Murdoch and CEO Lachlan Murdoch are likely to be part of the group of investors buying the US arm of TikTok. Fox A and B shares gained 2.2% and 1.9% respectively in early trading.

Trump said Rupert Murdoch, the former longtime head of Fox and News Corp, could also be involved in the deal.

Fox is in talks to join an investor group poised to acquire TikTok's U.S. operations, sources familiar with the situation told Deadline. President Donald Trump signaled earlier in the day potential involvement by the company's CEO Lachlan Murdoch and chairman emeritus Rupert Murdoch.

President Donald Trump has suggested his administration should revoke the licenses of broadcast TV stations that are "against" him. The threats are putting an in-the-weeds part of the media business front and center for consumers, and flexing the government's power over a major part of the industry.