Fox Reports Massive Quarterly Loss After Settling Dominion Lawsuit For $787.5 Million But Denies Need For Programming Shift

Fox Corp. reported a net loss of $50 million for the quarter largely due to its $787.5 million settlement over allegations that Fox News promoted false claims regarding Dominion Voting Systems' role in the 2020 election.
Fox CEO Lachlan Murdoch defended Fox News' journalism and said the settlement does not signal a need to change its prime-time programming strategy.
Fox News fired top host Tucker Carlson just days after settling the Dominion lawsuit, though Murdoch denied the settlement had any connection to programming changes.
Fox saw quarterly revenue rise 18% to $4.08 billion, boosted by ad revenue from televising Super Bowl LVII and streaming service Tubi.
Fox News faces another major defamation lawsuit from Smartmatic over false claims regarding its role in the 2020 election, with a trial expected in 2025.