Fox Corp.'s $787.5 million settlement with Dominion Voting Systems over defamation charges is eye-popping, but the ultimate cost to the media company is likely to be much lower.
On Tuesday, Fox settled with Dominion over charges that Fox News baselesslyagainst former President Donald Trump in 2020. It was the most-watched media libel case in decades.
Fox can deduct the Dominion settlement from its income taxes as an expense necessary for the cost of doing business. Fox Chief Communications Officer Brian Nick has confirmed the deductibility of the settlement. “The key is that if the payments are being made to private parties and not at the behest of the government then you can pretty much conclude without any fear of contradiction that the payment will be deductible," he said.found that of 34 settlements totaling over $1 billion, 20 companies reported deducting some portion or all of their settlement payments.
Usually, there’s a certain amount a media company has to pay, which could be in the millions, before insurance kicks in. However, the deductible incudes attorney fees, which in a high-profile case like Fox-Dominion could be tens of millions of dollars or higher, so the deductible could be swallowed up just by attorney fees.
MoffettNathanson's Fishman said everything indicates the company will be able to run its business as usual.
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Fox settlement seen as unlikely to change conservative mediaNow that Dominion Voting Systems' defamation lawsuit against Fox News ended in a $787 million settlement, what will be the impact on media outlets that appeal to conservatives
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Will Fox settlement alter conservative media? Apparently notNow that Dominion Voting Systems' defamation lawsuit against Fox News ended in a $787 million settlement, what will be the impact on media outlets that appeal to conservatives
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Fox settlement seen as unlikely to change conservative mediaNow that Dominion Voting Systems' defamation lawsuit against Fox News ended in a $787 million settlement, what will be the impact on media outlets that appeal to conservatives.
Read more »
Fox settlement seen as unlikely to change conservative mediaNow that Dominion Voting Systems' defamation lawsuit against Fox News ended in a $787 million settlement, what will be the impact on media outlets that appeal to conservatives.
Read more »
Did everyone on the Left forget about legacy media's ‘Hands up, don’t shoot’ or Covington Catholic lies?After the reported settlement between Fox News and Dominion, many pundits, politicians, Hollywood actors, and social media “influencers” took a victory lap this week. In near unison, they gleefully touted that Fox being forced to pay $787 million as part of its settlement with the voting machine…
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Will Fox settlement alter conservative media? Apparently notNow that Dominion Voting Systems' defamation lawsuit against Fox News ended in a $787 million settlement, what will be the impact on media outlets that appeal to conservatives? Some experts suggest there won't be much. But the settlement could make organizations less willing to be specific when spreading conspiracy theories or more careful about featuring election deniers with the 2024 presidential race coming up. Fox has built a hugely successful business with an opinionated operation that appeals to the emotions of viewers. The network doesn't have much incentive to change the way it operates.
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