Fox Corp. dinged by Dominion settlement in third quarter
The Associated Press
NEW YORK (AP) – Fox Corp. moved to a loss in its fiscal third quarter, weighed down by Fox News’ nearly $800 million settlement with Dominion Voting Systems.
The company said Tuesday that the difference in its performance was mostly due to charges related to legal settlement costs at Fox News Media.
The company still topped Wall Street expectations. Fox News agreed to pay Dominion to avert a trial in the voting machine company’s lawsuit that would have exposed how the network promoted lies about the 2020 presidential election.
Dominion sued Fox for $1.6 billion, arguing that the top-rated news outlet damaged the company’s reputation.
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5/9/2023 12:13:40 PM (GMT -5:00)