Posted on 04/23/2023 9:51:38 AM PDT by Olog-hai
Fox Corp.’s $787.5 million settlement with Dominion Voting Systems over defamation charges is eye-popping, but the ultimate cost to the media company is likely to be much lower. […]
How much the lawsuit will actually end up costing Fox is unclear because there are ways it can defray some of the expense, primarily through insurance and the use of tax deductions.
Fox can deduct the Dominion settlement from its income taxes as an expense necessary for the cost of doing business. Fox Chief Communications Officer Brian Nick has confirmed the deductibility of the settlement.
Big companies often deduct large settlements to help offset some of the cost, but since settlement amounts are usually confidential, it’s difficult to pin down exactly how much they benefit. Payments that are seen as restitution or compensation can be deducted, while payments made to the government or at the direction of a government are usually not deductible.
Robert Willens, a tax professor at the Columbia University School of Business, estimates that after the tax write-off, Fox will incur about three-fourths of the settlement amount, about $590 million. […]
Also, if Fox is insured, insurance is likely to cover some of the settlement. Chad Milton, a partner at Media Risk Consultants, said a large media company such as Fox could have anywhere between $100 million to $500 million in coverage, including media liability insurance and other types of insurance. …
(Excerpt) Read more at apnews.com ...
I read Blackrock might own both, so it is all awash.
This is so commonplace nowadays, I’ve retired my shocked face.
So the gullible people still watching FAUX News generate revenues from advertising which is transferred to Dominion to rig more elections, pay bribes, etc. Why is anyone still watching Murdoch’s FAUX News?
It’s lots of liberals watching too, not just gullible RINOs.
I really believe this Dominion horsesh*t wasn’t about the money. It was all about their credibility and legitimizing a stolen election. The Dung Beetle “media”, the Feral judges and their courts were in on it. Just my opinion as I see it.
It will cost Fox News billions in lost viewers leading to lost advertising.
Blackrock doesn’t own both companies.
Dominion’s owner is staple street capital, a private equity firm.
fox is owned by fox corporation, a publicly traded company. Fox Corp has many shareholders, the main one being Murdoch family trusts 39.6%) and many smaller ones including blackrock fund advisors (3%) which means that blackrock mutual funds/etfs/etc hold some fox Corp stock.
Companies’ insurance paying liabilities, and deductibility of legal fees isn’t exactly a novel concept unique to Fox.
BlackRock is a mainstay of the WEF, and I divested myself of all it holdings.
“While Trump points out an error in voting in Pennsylvania, the Dominion software also was used in Michigan and Georgia.”
NBC News: ‘Online and vulnerable’: Experts find nearly three dozen U.S. voting systems connected to internet
Doesn’t it seem strange that the controversy surrounding voter fraud centers around swing states that ultimately gave Biden the win.
FNC-Dominion Legal Settlement is Biggest Bait & Switch Scam in History
https://rootforamerica.com/fnc-dominion-legal-settlement-is-biggest-bait-switch-scam-in-history/
https://www.survivethenews.com/wayne-root-fox-news-dominion-legal-settlement-is-biggest-bait-switch-scam-in-history/
To all
A pre election grandstand play...
Dominion Voting Systems comes stock with remote control only the democrats had them.
Ain’t buddy systems neat Moe.
Exactly and it doesn’t matter. They’re just paying them selves with the decision made by people who they already paid for what difference does it make?
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