'We made the business decision to resolve this dispute and avoid the acrimony of a divisive trial and a multi-year appeals process,' Fox CEO Lachlan Murdoch said of Fox News' $787M Dominion settlement
“During the quarter we booked an $850 million charge in Other, net in relation to the Fox News Media defamation cases, reflecting all incurred and estimable costs at this time,” a Fox spokesprson said.
Despite the legal issues, Fox’s broadcast of the Super Bowl in the quarter saw the company’s advertising revenue rise by 43 percent to $1.86 billion, with total revenues in the quarter of $4.08 billion. Had it not been for the settlement, an increase in both distribution and advertising revenue would have given Fox a healthy profit in the quarter.
“We made the business decision to resolve this dispute and avoid the acrimony of a divisive trial and a multi-year appeals process,” Fox CEO
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