Verizon is not dropping FOX. There are lots of threads on this.
Sinclair Broadcasting group http://www.sbgi.net/ is asking for a large price hike. If an agreement is not reached, they, not verizon, may pull some of their channels from Verizon. This includes several FOX and CW in some areas.
At this point there is still a reasonable chance that some agreement may be reached.
You should always remember that there are two sides to these disputes.
One the one hand, the affiliate owner (or cable network owner) wants what they consider a fair price from the cable provider for the programming they provide. The more they get, the better chance they have to make a profit or improve on their profit margin.
On the other hand, the cable provider wants to keep the cost of providing the program low. The lower it is, the better chance they have to make a profit or improve on their profit margin.
It's not usually true to say one side or the other is yanking the channel. When the agreement expires, the provider no longer has a right to put that channel on their system. It has to come off the system until some kind of agreement is reached. Both sides understand this, though they will try to tell you otherwise. They make this a political event by running ads and setting up PR campaigns to put pressure on each other.
The simple truth is that most of thes disputes do not end in a channel being pulled off a system. The threat is always there, but usually an agreement is reached at the last minute.