Fox settles Dominion case for $787.5m

Fox Corp FOXA.O and Fox News on Tuesday settled a defamation lawsuit by Dominion Voting Systems for $787.5 million, averting a trial putting one of the world's top media companies in the crosshairs over its coverage of false vote-rigging claims in the 2020 US election.

The settlement, which legal experts said was the largest struck by an American media company, was announced by the two sides and the judge in the case at the 11th hour.

The jury had been selected earlier in the day and the trial poised for opening statements in Wilmington, Delaware. Dominion had sought $1.6 billion in damages in the lawsuit filed in 2021. Dominion CEO John Poulos called the settlement "historic."

"Fox has admitted to telling lies about Dominion that caused enormous damage to my company, our employees and our customers," Poulos said in a statement. "Truthful reporting in the media is essential to our democracy," Poulos said.

At issue in the lawsuit was whether Fox was liable for airing the false claims that Denver-based Dominion's ballot-counting machines were used to manipulate the presidential election in favour of Democrat Joe Biden over then-President Donald Trump, a Republican.

Tuesday's settlement spared Fox the peril of having some of its best-known figures called to the witness stand and subjected to potentially withering questioning.