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Fox agreed to a $787.5 million settlement with Dominion Voting Systems on Tuesday. But a senior media executive told Insider that insurance typically handles these types of payments. Fox Corp. had nearly $4.1 billion of cash on hand, according to comments made in February by company CEO Lachlan Murdoch. Fox Corp., which also owns assets such as the broadcast network and streamer Tubi, has a market capitalization of $17.61 billion as of Tuesday. In 2017, Fox also agreed to a $90 million "derivatives" settlement against company officers over sexual harassment issues at Fox News, according to Reuters.

☆ Defamation suit settlement will hold Fox accountable for election claims, Dominion negotiator says
▼ + stars: | 2023-04-19 | by ( Natasha Piñon | ) www.cnbc.com time to read: +2 min

The last-minute $787.5 million settlement of the Dominion Voting Systems defamation lawsuit against Fox Corp. was a major step toward making Fox News answer for false claims that Dominion's machines influenced the 2020 election, a key negotiator of the deal said Wednesday. Yaghoobzadeh was one of the people who cut the settlement deal. He declined to disclose when Fox had made its first offer, saying only that the initial sum "was not enough." CNBC previously reported that anchors will not have to acknowledge the settlement or apologize on air, according to people familiar with the matter. The massive settlement sum will go to legal fees and taxes first, Yaghoobzadeh said.

☆ CNN host bursts out laughing as he reads Fox News' $787.5 million Dominion settlement
▼ + stars: | 2023-04-19 | by ( Tom Porter | ) www.businessinsider.com time to read: +2 min

Jake Tapper laughed as he read out Fox News' statement about its settlement with Dominion. The conservative news network reached the settlement just before a trial was about to start. Dominion sued Fox for broadcasting false claims that its machines were used to rig the 2020 election. Tapper said the settlement "can only be interpreted as one of the ugliest and most embarrassing moments in the history of journalism." In a statement to Deadline, Fox News hit back, saying that "we can't look at CNN's awful ratings without laughing and we're sure Warner Bros.

"Fox has admitted to telling lies about Dominion that caused enormous damage to my company, our employees and our customers," Poulos said in a statement. Shares of Fox Corp closed up slightly at $34 per share, but were down 1% in after-hours trading after the settlement amount was disclosed. Fox Corp CEO Lachlan Murdoch told Wall Street analysts in February that the company had about $4 billion cash on hand. [1/5] Dominion CEO John Poulos and lawyers speak to the media after Dominion Voting Systems and Fox settled a defamation lawsuit for $787.5 million, avoiding trial, over Fox's coverage of debunked election-rigging claims, in Delaware Superior Court, in Wilmington, Delaware, U.S. April 18, 2023. Fox Corp reported nearly $14 billion in annual revenue last year.

☆ What to know about Dominion's lawsuit against Fox
▼ + stars: | 2023-04-18 | by ( Reuters Editorial | ) www.reuters.com time to read: 1 min

PoliticsWhat to know about Dominion's lawsuit against FoxPostedThe trial of Dominion Voting Systems' $1.6 billion lawsuit against Fox News is now set to begin Tuesday. Here's what you need to know about the landmark defamation case. Helen Coster and Jack Queen have more.

A person walks past Fox News Headquarters at the News Corporation building on May 03, 2022 in New York City. - Fox Corp. and its cable networks agreed Tuesday to pay $787.5 million to Dominion Voting Systems to settle a defamation lawsuit over false claims that Dominion's machines swayed the outcome of the 2020 presidential election. The suit by Dominion, which sells voting machines and election software, had argued that Fox News and its sister network Fox Business "intentionally and falsely" blamed Dominion for the 2020 loss of former President Donald Trump to President Joe Biden by airing unsubstantiated claims about the company. Fox had said in court filings that its hosts' statements about Dominion were protected by the First Amendment. The company also said Dominion had not shown that the statements were made with so-called actual malice, which is the threshold for civil defamation claims.

☆ From Mike Lindell to OAN, here's everyone Dominion and Smartmatic are suing over election conspiracy theories so far
▼ + stars: | 2023-04-18 | by ( Grace Dean | Jacob Shamsian | ) www.businessinsider.com time to read: +3 min

Sidney Powell by Dominion and SmartmaticAttorney Sidney Powell at a Trump Campaign press conference. Despite being purged from Trump's "Elite Strike Force" legal team Powell used her false theories as the premise of four federal lawsuits seeking to overturn the election result. The falsehoods from Powell and Rudy Giuliani, another conspiracy theorist attorney hired by Trump to challenge his election loss, formed the basis for Dominion's lawsuit against Fox. Smartmatic filed a defamation lawsuit against Powell a month after Dominion did, suing her at the same time it sued Rudy Giuliani, a fellow conspiracy theorist, and Fox News. The company claimed that Powell and Giuliani used right-wing media outlets like Fox News to make their conspiracy theories go viral.

November 15, 2020 -- Fox’s daytime average audience reaches a 35% decline since the eve of the election, according to statistics cited in Dominion's lawsuit. March 26, 2021 -- Dominion sues Fox News in Delaware Superior Court. March 31, 2023 -- Davis rules that the statements aired on Fox were false, defamatory and not covered by legal protections for the press under the U.S. Constitution's First Amendment. April 12, 2023 -- Davis sanctions Fox after it was revealed that the network failed to turn over relevant recordings and transcripts until the eve of trial. April 16, 2023 -- Davis delays trial by one day without giving a reason, but two sources told Reuters that Fox and Dominion were holding last-minute settlement talks.

☆ Fox News settles Dominion's defamation lawsuit for $787.5 million over election conspiracy theories just as the trial is about to start
▼ + stars: | 2023-04-18 | by ( Jacob Shamsian | ) www.businessinsider.com time to read: +11 min

Fox News settled Dominion's defamation lawsuit over election conspiracy theories for $787.5 million. WILMINGTON, Delaware — Fox News settled Dominion Voting Systems's blockbuster defamation lawsuit just as it was about to go to trial, agreeing to pay it $787.5 million. In a press conference after Davis announced the settlement, Dominion CEO John Poulos criticized Fox for broadcasting lies about the company. Dominion first filed its lawsuit against Fox News and its parent company, Fox Corp., in March 2021. Representatives of Fox News arrive at the justice center for the Dominion Voting Systems' defamation lawsuit against Fox News, in Wilmington, Delaware.

A person walks by Fox News signage posted on the News Corporation building in New York City, April 12, 2023WILMINGTON, Del. — Opening arguments were delayed Tuesday in the Dominion Voting Systems' defamation lawsuit accusing Fox News of spreading the damaging falsehood that the company rigged the 2020 election. The person, a Fox News representative, was forced to delete the photos and permanently exit the courtroom. The Fox representative misunderstood the courtroom rules and apologized, adding that the pictures were deleted immediately, the company told CNBC. I'm not going to give you an extra day," Davis told attorneys for both camps.

☆ Dominion wasn't here to save democracy — it just wanted money from Fox News
▼ + stars: | 2023-04-18 | by ( Jacob Shamsian | ) www.businessinsider.com time to read: +9 min

Fox News detractors wanted Dominion's lawsuit against Fox News to move forward for democracy's sake. "PLEASE Dominion --- Do not settle with Fox! The election technology company filed a civil defamation lawsuit against Fox News and its parent company, Fox Corporation, and asked for $1.6 billion. But just because Fox settled Dominion's lawsuit doesn't mean it's now free of legal risk. "Smartmatic remains committed to clearing its name, recouping the significant damage done to the company, and holding Fox accountable for undermining democracy."

☆ Fox News' settlement with Dominion doesn't mean the risk of embarrassment is over, with Smartmatic saying it 'remains committed' to its own defamation case against the network
▼ + stars: | 2023-04-18 | by ( Charles R. Davis | ) www.businessinsider.com time to read: +5 min

The company made the statement following Fox News' $787 million settlement with Dominion on Tuesday. Smartmatic sued Fox News for defamation in 2021 and is seeking $2.7 billion in damages. (In a statement, Fox News acknowledged the false statements and said the settlement reflected its "commitment to the highest journalistic standards.") It also opened the door to adding Fox News' parent company, the Fox Corporation, as a defendant. Before settling with Dominion, Fox News' public relations team said the same thing.

☆ Dominion lawyer: Fox settled defamation suit for $787.5 million
▼ + stars: | 2023-04-18 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailDominion lawyer: Fox settled defamation suit for $787.5 millionDominion holds a press conference after getting a setlement from Fox Corp over the voting system defamation case with Fox settling with Dominion for $787.5 million according to Dominion's lawyer.

The source, who was not authorized to speak publicly, told Reuters that Fox was seeking a possible settlement. The Washington Post and the Wall Street Journal also reported that Fox was pursuing settlement talks, citing sources. Dominion is suing Fox Corp (FOXA.O) and Fox News in a defamation lawsuit over the network's coverage of the 2020 U.S. presidential election. Davis on Wednesday sanctioned Fox News, handing Dominion a fresh chance to gather evidence after Fox withheld records until the eve of the trial. An expert report commissioned by Dominion attributed scores of lost contracts to Fox's coverage, though much of the report remains under seal.

☆ Dominion defamation trial against Fox to proceed Tuesday after delay
▼ + stars: | 2023-04-17 | by ( Helen Coster | ) www.reuters.com time to read: +5 min

Dominion sued Fox Corp and Fox News. Rupert Murdoch, the chair of Fox Corp, is set to testify during the trial, along with a parade of Fox executives and on-air hosts, including Tucker Carlson, Sean Hannity and Jeanine Pirro. Fox's filing cited a Friday email from a Dominion lawyer saying that Dominion would not pursue its lost profit claim at the trial. Davis on Wednesday sanctioned Fox News, handing Dominion a fresh chance to gather evidence after Fox withheld records until the eve of the trial. Fox has also said that Dominion cannot pin actual malice on the individuals Dominion has said were responsible for the defamatory statements.

☆ Fox News pushes Dominion to settle mammoth defamation lawsuit as judge delays trial, multiple sources report
▼ + stars: | 2023-04-17 | by ( Jacob Shamsian | ) www.businessinsider.com time to read: +9 min

Fox is pushing Dominion to settle its $1.6 billion defamation lawsuit, WSJ and Reuters report. Fox made a last-minute attempt to settle the case out of court, the Wall Street Journal reported, citing people familiar with the situation. A spokesperson for Fox Corp., the parent company of Fox News, declined to comment to Insider on the record. Fox Corp. CEO Lachlan Murdoch and Chairman Rupert Murdoch. Adrian Edwards/GC ImagesIn his own messages and depositions, Fox Corp.

Investors are using provisions in Delaware corporate law to demand internal Fox records to investigate how Fox's leaders acted as its Fox News network aired segments on Trump's false claims that he lost the 2020 presidential election due to voter fraud, two sources confirmed. In moves not previously reported, shareholders are looking for records such as board minutes, emails and texts that may contain evidence that Fox directors and executives were derelict by allowing the network to air the false claims. It was not clear how many Fox shareholders are pursuing information demands. Fox has argued that Dominion's case falls short of proving actual malice and its damages request is "untethered from reality." If Fox prevails in the Dominion case, the shareholders' cases would not be as strong, said Ann Lipton, a professor at Tulane University Law School.

Fox has said Dominion cannot prove that the network knowingly spread falsehoods or recklessly disregarded the truth, the legal standard of "actual malice" that plaintiffs in defamation lawsuits must meet. Fox is now largely limited to arguing that Dominion cannot prove actual malice. Fox has called Dominion's lawsuit an assault on the free press and framed its stance in the case as a defense of journalism and diversity of ideas in the public square. Fox has attacked the credibility of Dominion's damages estimate, saying it is based upon unrealistic growth projections and faulty assumptions. An expert report commissioned by the company attributed scores of lost contracts to Fox's coverage, though much of the report remains under seal.

☆ Fox News apologizes to judge in defamation case for failing to disclose Rupert Murdoch's role at the network
▼ + stars: | 2023-04-16 | by ( Ashley Capoot | ) www.cnbc.com time to read: +2 min

Fox News apologized to the Delaware judge presiding over the Dominion Voting Systems' lawsuit for failing to properly define Fox Corp. Chairman Rupert Murdoch's formal role at the network, according to a letter filed with the court. "We understand the Court's concerns, apologize, and are committed to clear and full communication with the Court moving forward," Fox attorney Blake Rohrbacher wrote in the letter Friday. Dominion Voting Systems brought its defamation lawsuit against Fox and its TV networks, Fox News and Fox Business, in March 2021, arguing its hosts pushed false claims that Dominion's voting machines were rigged in the 2020 presidential election that saw President Joe Biden triumph over former President Donald Trump. Delaware Superior Court Judge Eric Davis expressed frustration with the network Tuesday for its failure to accurately disclose Murdoch's leadership role there. Fox lawyers had repeatedly claimed Murdoch did not have an official title at Fox News, only to later reveal that he serves as the Fox News Executive Chair.

☆ Dominion’s case against Fox News goes to trial next week. Is the First Amendment really on the line?
▼ + stars: | 2023-04-16 | by ( Jacob Shamsian | ) www.businessinsider.com time to read: +21 min

But even by the standards of the profession, the language in Dominion's $1.6 billion lawsuit against Fox News has been downright apocalyptic. A victory for Dominion against Fox, they say, could wreak havoc for other journalism organizations across the country. The sheer closeness between Trump and Fox News makes a case like this unlikely to harm journalism organizations down the line, Goodale said. The vast majority of defamation cases against media organizations are settled, which gives few high-profile precedents to the Dominion lawsuit. "And that's the balance that the Sullivan court strike tried to strike in 1964.

☆ Fox mogul Rupert Murdoch survived the phone-hacking scandal. Dominion's $1.6 billion lawsuit will test whether he can do it again.
▼ + stars: | 2023-04-16 | by ( Jack Newsham | ) www.businessinsider.com time to read: +15 min

Now, two voting-technology companies, Dominion Voting Systems and Smartmatic, want to make another Murdoch media property pay even more for Fox News's role in spreading election denial. But the phone-hacking scandal showed how Murdoch has weathered challenges to his power before. Another key difference from the phone-hacking scandal is the presence of written records that show Fox execs knew exactly what was going on. In the last quarter of 2022, Fox Corp. netted $321 million on $4.6 billion in revenue. And during the phone-hacking scandal, Murdoch showed fierce loyalty.

Fox has argued that Dominion cherry-picked evidence to mischaracterize the network's coverage decisions, which it said were reasonable because election-rigging claims by the president's lawyers were inherently newsworthy. Fox has said it also gave Dominion's side of the story by airing its denials. The Fox Corp chairman is set to take the witness stand, along with other executives including Fox News CEO Suzanne Scott. The trial is also due to include testimony from a parade of conservative-leaning Fox hosts including Tucker Carlson, Sean Hannity and Jeanine Pirro. Fox has attacked the credibility of Dominion's damages estimate, saying it is based upon unrealistic growth projections and faulty assumptions.

☆ What Dominion's lawsuit could mean for Fox and its cable TV networks
▼ + stars: | 2023-04-13 | by ( Lillian Rizzo | ) www.cnbc.com time to read: +5 min

Michael M. Santiago | Getty Images News | Getty ImagesDominion Voting System's defamation lawsuit against Fox Corp . and its cable TV networks will go to trial in the coming days, but the jury is still out on what, exactly, the lawsuit means for Fox and its business. Dominion brought its lawsuit against Fox and its TV networks, Fox News and Fox Business, in March 2021, arguing their hosts pushed false claims that Dominion's voting machines were rigged in the 2020 presidential election that saw Joe Biden triumph over Donald Trump. Worsen [Fox Corp. Stock Chart Icon Stock chart icon Fox Corp.'s stock has remained stable in recent months as evidence implicating its TV hosts and executives have come to light in Dominion's defamation lawsuit. Oftentimes, companies will pull their ads when TV networks are embroiled in controversy.

Delaware Superior Court Judge Eric Davis issued the sanction after Dominion's lawyers revealed instances in which Fox's attorneys did not turn over evidence in a timely manner, the Times reported. Fox said in a statement that it "produced the supplemental information" to Dominion "when we first learned it." Dominion sued Fox News and parent company Fox Corp (FOXA.O) in 2021. Grossberg said in her latest filing that she has tapes of former Trump lawyers, including Giuliani, conceding they lacked evidence for their claims. As a Fox News officer, Murdoch would likely have been subject to more probing discovery by Dominion.

☆ Dominion Energy to buy solar project in Virginia
▼ + stars: | 2023-04-11 | by ( ) www.reuters.com time to read: +1 min

April 11 (Reuters) - Utilities firm Dominion Energy Inc (D.N) will buy Longroad Energy's 108 megawatt solar project in Virginia, the U.S.-based renewable energy developer said on Tuesday. The solar project, called Foxhound, has been in development for six years and will produce enough clean energy to power more than 17,000 homes, Longroad said in a press release. Dominion and other large U.S. utilities with renewable projects are set to benefit from new federal clean-energy funding in the $430 billion Inflation Reduction Act. The act provides billions of dollars in tax credits and direct payments for solar, wind, battery and other energy sources to transition from fossil fuels. The financial close of Dominion's acquisition is expected upon mechanical completion of the project in January 2024.

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