Fox Corp expects no operational impact from defamation lawsuit settlement

-By Bloomberg News

Fox Corp. said it doesn’t expect to see any major impact on its operations or business as a result of the $787.5 million settlement of a defamation lawsuit related to false claims about the 2020 presidential election.
 

“We don’t expect significant operational effects or changes to our business given our cash flow, strong balance sheet and the health of our business,” the company said in an e-mailed statement.

Fox declined to say whether insurance would help offset the payment.

Fox, controlled by the Murdoch family, agreed to settle a suit by voting machine-maker Dominion Voting Systems Inc. that claimed it defamed the company by allowing guests and hosts on its Fox News and Fox Business networks to say Dominion helped throw the election for Joe Biden.