Fox Corp. reports $50 million net loss following Dominion settlement

Source: The Hill | May 9, 2023 | Dominick Mastrangelo

Fox Corp., the parent company of Fox News, reported a net loss of $50 million in the first quarter of 2023, just weeks after it paid a historic settlement to Dominion Voting Systems.

The company reported total quarterly revenues of $4.08 billion, representing an 18 percent increase from the $3.46 billion reported in the prior year for the first quarter. In last year’s first quarter, Fox Corp. reported a net profit of $290 million.

The conservative media giant agreed to pay Dominion a massive $787.5 million settlement late last month to forgo a jury trial after the voting systems provider hit it with a blockbuster defamation lawsuit stemming from Fox’s airing of false statements about its software being promoted by former President Trump and his allies after the 2020 election.


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