Fox’s settlement with Dominion may not cost it $787.5m

New York: Fox Corp’s hefty $787.5 million settlement with Dominion Voting Systems over defamation charges is eye-pop- ping, 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 baselessly accused the company of rigging its voting machines against former President Donald Trump in 2020. It was the most-watched media libel ca- se in decades. Fox had about $4 billion of cash on hand as of December 2022, and Moffett- Nathanson analyst Robert Fishman expects the company to pay the settlement during the current quarter. How much the lawsuit will actually end up costing Fox is unclear because there are ways it can defray so- me of the expense, primarily through insurance and the use of tax deductions. Fox chief communications officer Brian Nick has confirmed the deductibility of the settlement.

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