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Bloomberg News

Fox Broadcasting Co. struck a rare apologetic tone with its television affiliates, saying it will reduce the local stations’ payments to the network by $5 million as the network copes with falling ratings. It’s about a 10% cut from the $55 million the affiliates were set to pay for the fiscal year starting July 1. Most of the relief will be given to small stations having problems making the payments, Fox said at its affiliates meeting in Phoenix. Fox, the No. 4-rated U.S. TV network, endured a bitter confrontation with affiliates last year after asking them to make payments to Fox in exchange for some extra ad time. Shares of Fox Entertainment Group Inc., a unit of Sydney, Australia-based News Corp., fell 31 cents to close at $26.06 on the NYSE.

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