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☆ Fox settlement is still a significant hit to balance sheet: Puck founding partner
▼ + 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 EmailFox settlement is still a significant hit to balance sheet: Puck founding partnerDylan Byers, founding partner at Puck, and Katie Robertson of The New York Times discuss Fox's $787.5 million settlement with Dominion over defamation claims. Hosted by Brian Sullivan, “Last Call” is a fast-paced, entertaining business show that explores the intersection of money, culture and policy. Tune in Monday through Friday at 7 p.m. ET on CNBC.

☆ Apple CEO Tim Cook to meet with India’s Prime Minister Narendra Modi following Mumbai store opening
▼ + stars: | 2023-04-18 | by ( Seema Mody | ) www.cnbc.com time to read: +4 min

Prime Minister Narendra Modi launches slew of infrastructure projects from MMRDA Grounds, at Bandra-Kurla Complex, Bandra (East) on Jan. 19, 2023 in Mumbai, India. After opening a flagship store in Mumbai, CEO Tim Cook will travel to New Delhi to meet with Indian Prime Minister Narendra Modi on Wednesday. Apple's growth in India is widely seen as a success story by Modi and Indian officials. Flipkart and Amazon are dueling for the top spot in India's e-commerce market, and both face competition from newcomer Meesho. — CNBC's Steve Kovach contributed to this reportWATCH: Tim Cook visits India to open first Apple retail store

☆ Tucker Carlson and Sean Hannity won't have to apologize on air for broadcasting false claims about Dominion as Fox News ponies up $787 million
▼ + stars: | 2023-04-18 | by ( Kelsey Vlamis | Jacob Shamsian | ) www.businessinsider.com time to read: +2 min

Dominion Voting Systems settled its major defamation lawsuit against Fox News on Tuesday. Fox agreed to pay Dominion $787.5 million and acknowledged that false claims were broadcast. As part of its settlement with Dominion Voting Systems, Fox News hosts won't have to apologize on air for broadcasting false claims, a person familiar with the terms told Insider. "We acknowledge the Court's rulings finding certain claims about Dominion to be false," a Fox spokesperson said in an emailed statement. Fox argued it was reporting the news and that its broadcasts of Powell's and Giuliani's false claims were protected by the First Amendment.

☆ 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.

☆ 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 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."

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.

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 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.

☆ 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 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.

Fox has argued in legal filings that Dominion’s $1.6 billion damages request is “untethered from reality” and designed to enrich the company’s investors. In Delaware, attorneys are not allowed to speak directly with potential jurors. The streamlined process allows for jury selection to happen more quickly than it does in some other states: Davis has allotted two days. But it also means both sides will have a harder time trying to identify prospective jurors’ political views, which could be relevant in this case, said Gomez. “Will the facts of the case actually matter to them if they have that underlying belief?”The questions are limited to prospective jurors’ experience rather than their attitudes.

☆ 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.

☆ Fox News will be investigated for withholding evidence in the Dominion lawsuit, could face sanctions
▼ + stars: | 2023-04-12 | by ( Associated Press | ) www.businessinsider.com time to read: +2 min

The judge overseeing the Fox-Dominion defamation case sanctioned the network for withholding evidence. This happened the day after a disclosure that Fox lawyers withheld information about Rupert Murdoch's role at the media company. (AP) — The judge presiding over a defamation case against Fox News said Wednesday he likely will order an independent review to determine whether the network improperly withheld evidence, a step that could lead to sanctions. That came after the disclosure a day earlier that Fox lawyers had withheld critical information about the role company founder Rupert Murdoch, who is chairman of Fox. Dominion alleges that Fox damaged the company by repeatedly airing false allegations that its machines and the software they used rigged the 2020 presidential election to prevent Trump's re-election.

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.

☆ Google TV gets 800 free channels
▼ + stars: | 2023-04-11 | by ( Ashley Capoot | ) www.cnbc.com time to read: 1 min

Google announced that starting Tuesday it's adding more than 800 free channels to its Google TV app on the Chromecast streaming device and select TVs made by Sony, CL, Hisense and Philips. Google's aggregation of several existing free TV services like Fox's Tubi, Paramount Global's Pluto TV and Haystack News is a move to differentiate its streaming operating interface from competitors, including Roku , Apple and Amazon . The Alphabet unit said it is integrating free channels into the "Live" tab where users will see content from channels like NBC, ABC, CBS and FOX. The service is launching in the U.S. on all Google TV devices. Eligible Android TV devices will be able to access the new TV guide and free channels later this year.

On Monday, Fox News and its parent company Fox Corp (FOXA.O) head to trial over Fox's coverage of false election-rigging claims. Fox News had disclaimed that Murdoch was a company officer, which shaped how Dominion litigated the case, according to Nelson. As a Fox News officer, Murdoch would likely have been subject to more probing discovery by Dominion. A Fox lawyer told the hearing in Wilmington, Delaware, that Murdoch disclosed the title in a February deposition and he called the title "honorific." Superior Court Judge Eric Davis called the delayed disclosure "bizarre" and chided Fox attorneys for having made representations that Murdoch wasn't an officer of Fox News, only to reverse on the eve of trial.

Dominion asserts that Fox's top brass approved of the coverage, but the network says the evidence of high-level involvement is threadbare. The jury pool will be drawn from New Castle County, Delaware, where Democrats outnumber Republicans more than two-to-one, according to the state's Department of Elections. The network says scattered doubts about the claims among certain individuals cannot be attributed to the organization as a whole. "I think (Fox is) trying to argue that the employees themselves did not have that necessary mental state," said UNC's Papandrea. "But it's tricky when the organization itself has relevant information that would cast doubt on the veracity of the statements about Dominion."

☆ Fox News settles lawsuit with Venezuelan businessman it accused of helping rig the 2020 US presidential election, as it readies for $1.6 billion Dominion trial
▼ + stars: | 2023-04-10 | by ( Riddhi Kanetkar | ) www.businessinsider.com time to read: +3 min

Fox News has settled a defamation lawsuit filed by Venezuelan businessman Majed Khalil. Khalil was accused on air of rigging the 2020 presidential election by then Fox host Lou Dobbs. The former Fox host also accused Khalil and other Venezuelans of being involved in a scheme to oust former president Donald Trump. Khalil filed a $250 million lawsuit against Dobbs, Fox News, and former Trump lawyer Sidney Powell in December 2021. Dominion's mammoth $1.6 billion lawsuit against Fox Corp, which it filed after Fox accused the company of using its voting machines to aid Joe Biden's victory, has garnered the most attention.

☆ Here are Thursday's biggest analyst calls: Netflix, Apple, Amazon, Microsoft, FedEx, Pinterest & more
▼ + stars: | 2023-04-06 | by ( Michael Bloom | ) www.cnbc.com time to read: +8 min

Raymond James upgrades FedEx to outperform from market perform Raymond James said and "undeniable" positive change is underway at the shipping giant. "We are initiating coverage of XPO, one of the largest less-than-truckload (LTL) carriers, in North America, with an Outperform rating and a $44 target price." "We are initiating coverage of Skyworks Solutions, with a Buy rating and $150 target price. Raymond James upgrades Wells Fargo to strong buy from outperform Raymond James said the banking giant is well positioned in the current environment. Raymond James initiates Pinterest as outperform Raymond James said it sees "steady user growth" for Pinterest.

☆ Dominion urges judge to compel Murdochs to testify live in Fox trial
▼ + stars: | 2023-04-05 | by ( Lillian Rizzo | ) www.cnbc.com time to read: +2 min

Dominion Voting Systems urged a Delaware judge to compel Fox Corp. Chairman Rupert Murdoch, and his son, Fox Corp. CEO Lachlan Murdoch, to appear live in court during the upcoming trial over its $1.6 billion defamation lawsuit against Fox and its networks. In a letter to Judge Eric Davis on Wednesday, Dominion urged the judge to compel both Murdochs to appear live. In earlier court papers Dominion did not included the Murdochs on its list for live testimony, although it had been earlier discussed in court. Fox had opposed Murdoch, as well as the other Fox Corp. executives, giving their testimony live in court. They had also pointed to the elder Murdoch's age, 92, as a reason for why he couldn't appear live in court.

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