Fox News has reached a $787 million settlement with Dominion Voting Systems in order to avoid further legal action against the network for defamation. Despite the large sum paid out, there will be no retractions or on-air apologies made by Fox News. The media corporation acknowledged that a Delaware court found "certain claims about Dominion to be false," but this is likely as far as the broadcaster will go when it comes to considering its prominent role in broadcasting election conspiracies to viewers.
The settlement prompted harsh condemnations of the conservative broadcaster from various quarters. Outside of Fox News, however, many saw the settlement as vindication and accountability. CNN anchor Jake Tapper weighed in on the matter, stating that the agreement "can only be interpreted as one of the ugliest and most embarrassing moments in the history of journalism."
Fox Corp.'s troubles are far from over, despite settling with Dominion Voting Systems. The company now faces another defamation lawsuit filed by rival voting machine company Smartmatic USA which is demanding more than $2.7 billion in damages. Fox investors have also initiated their own lawsuits alleging that Rupert Murdoch and other board members were derelict in their duties by allowing Fox News to promote election lies which harmed the network's reputation as a news organization.
This latest development marks yet another stain on Murdoch's 70-year legacy as a trailblazing mogul who built his global empire starting with just one newspaper based in his native Australia.
On Tuesday afternoon during normal programming hours at Fox News business channel, anchor Neil Cavuto interrupted reporting to announce details about this significant settlement between both parties involved; he then brought media commentator Howard Kurtz onto air so they could discuss these recent events together publicly - without any apology given or retraction made regarding previous statements aired by their employer concerning electoral fraud allegations leveled at Dominion Voting Systems Corporation itself earlier this year.