Yes, you read that correctly, and I am not confused. Fox got away with endorsing, promoting, and perpetuating — to this day — the Big Lie with a nominal business cost of $787.5 million. Let’s put this settlement into perspective, shall we? According to FactSet, Fox Corporation’s revenue in 2022 was $14.285 billion. Their EBITDA for the same year was $3.187 billion. And they have $5.200 billion of cash and cash equivalents on hand as of December 2022, with total current assets of $8.281 billion. Needless to say, the company is flush with cash or assets that can be converted to cash relatively easily. The company was never in danger of being unable to pay; the only threat was exposing its reputation as America’s number one propaganda outlet. That is an asset they could not risk tarnishing. Hence, the settlement at the discounted rate of more than 50 percent of Dominion’s original asking.
Moreover, there is no evidence or suggestion that Fox News needs to admit wrongdoing as part of the settlement, which seems awfully strange because I would think Dominion, at the very least in addition to the cash payout, demand that Fox News publicly, specifically, and repeatedly clear Dominion’s name rather than the pathetic statement the defendants put out:
We are pleased to have reached a settlement of our dispute with Dominion Voting Systems. We acknowledge the Court’s rulings finding certain claims about Dominion to be false. This settlement reflects FOX’s continued commitment to the highest journalistic standards. We are hopeful that our decision to resolve this dispute with Dominion amicably, instead of the acrimony of a divisive trial, allows the country to move forward from these issues.
Fox News Statement
Are you f***inf kidding me?!?! “We acknowledge the Court’s rulings finding certain claims about Dominion to be false.” I heard an MSM pundit call their statement as being weak tea as being an overstatement. Truly! It’s akin to a non-apology apology.
Also, I keep hearing moronic political pundits and journalists proclaim the significance of this settlement, which they claim is enormous and cannot be overlooked. Sure, it’s the largest settlement of its kind, but compared to the damage done — and continues to be done — to America by the Fox News propaganda channel it is a drop in the bucket! To be sure, this settlement is nothing more than an unexpected and extraordinary business expense, which will be covered in part by insurance. I also hear idiot pundits claim that this settlement, by the sheer nature of its size, will change Fox News or cause them to think twice about disseminating false information. That is, of course, all f***ing B.S. of the highest f***ing order. Nothing will change because the so-called accountability engendered by the settlement is incomplete, no matter what Dominion claims.
I will concede it was never Dominion’s responsibility to bear the yoke of exposing Fox News’ harm to our democracy by their lies, even though we expected (desired) them to do so. Nonetheless, to a not insignificant degree, Dominion tried to take on that public responsibility and failed us in the end. They tried to have their cake and eat it too. (Witness Dominion’s comments about the settlement.) Ultimately, settling was a business decision, not a decision to protect America’s democracy by exposing Fox News in a court of law and requiring a verdict. (Expecting capitalism to save democracy is a whole other topic.) So, in the final assessment, Fox News will continue to do what it has always done, but without naming names, and their viewership will be none the wiser, as if that was ever really a possibility. Welcome to stupid America. This was a win for Fox News and another nail in the coffin for America! Oh, well!