Fox News avoided a long and drawn-out trial defending themselves in a lawsuit with Dominion Voting Systems. Still, it had a fairly hefty price tag attached to that convenience.
Precisely, it was $787.5 million — that is what the cable news network will pay in a settlement. That’s pricey, but hey, they did make history — it goes down as the largest publicly known defamation settlement in US history that involved a media company.
It happened as the case was heading toward opening statements. This ends the two-year battle.
Here’s a quote from Judge Eric Davis, who lucked out and can take the next few weeks off if he wants.
“The parties have resolved their case.”
Wow, a man of few words. Fox said it “acknowledges the Court’s rulings finding certain claims about Dominion to be false.”
Fox News will pay about half of the $1.6 billion that Dominion initially intended for. And talk about an ROI — the $787.5 million is 10X what the company was valued at in 2018
Fox News has this suit out of the way, but they are now facing a second defamation suit from Smartmatic. That’s another voting technology company. I bet they are salivating after what happened today.
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