Fox Corp. moved to a loss in its fiscal third quarter, weighed down by Fox News' nearly $800 million settlement with Dominion Voting Systems.
FILE - A person walks past the Fox News Headquarters in New York on April 12, 2023. Fox Corp. swung to a third quarter loss Tuesday, May 9, weighed down by Fox News' nearly $800 million settlement with Dominion Voting Systems.
“We made the business decision to resolve this dispute and avoid the acrimony of a divisive trial and a multiyear appeal process, a decision clearly in the best interests of the company and its shareholders,” said Lachlan Murdoch, Chair and CEO of Fox Corp. The New York City company said Tuesday that the difference in its performance was mostly due to charges related to legal settlement costs at Fox News Media. The company did get a boost from televising Super Bowl LVII.
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Fox Corp. Swings to Quarterly Loss Due to Dominion Litigation'We made the business decision to resolve this dispute and avoid the acrimony of a divisive trial and a multi-year appeals process,' Fox CEO Lachlan Murdoch said of Fox News' $787M Dominion settlement
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Fox Swings To $50 Million Quarterly Loss On Dominion SettlementFox Corp. said it swung to a $50 million loss last quarter from a $290 million profit the year before mostly due to the cost of a legal settlement with Dominion Voting Services. Sales jumped 18% la…
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