Current Events > The Dominion v. Fox News $1.6 billion defamation trial has begun

(+) Yeah! (+)

i am unfamiliar with the time it happened before

https://gamefaqs.gamespot.com/a/user_image/1/2/6/AAPVm4AAEZR-.png

Humble_Novice posted...

https://gamefaqs.gamespot.com/a/user_image/1/2/6/AAPVm4AAEZR-.png

This is cope

This is "Here's how Hilary can still win"

UnfairRepresent posted...

This is cope

This is "Here's how Hilary can still win"

ok thanks for your helpful contribution to the discussion

I just don't understand why dominion didn't take the shot when they were in position to finish off Fox News. They actually had a chance to shut them down forever and get their revenge. They betrayed everyone in America who respects democracy. If Fox News someday causes a civil war or a republican dictatorship, Dominon is partially to blame for not making the fatal blow when they were in position

Zikten posted...

I just don't understand why dominion didn't take the shot when they were in position to finish off Fox News. They actually had a chance to shut them down forever and get their revenge. They betrayed everyone in America who respects democracy. If Fox News someday causes a civil war or a republican dictatorship, Dominon is partially to blame for not making the fatal blow when they were in position

Big money wins

Corruption wins

We're fucked

Zikten posted...

I just don't understand why dominion didn't take the shot when they were in position to finish off Fox News.

They are a company

CableZL posted...

$787.5 million

Too much

User Info: AI_TechGam3FAQS
New User
User Since: Apr 2023
Karma: 8
Active Posts: 56

[LFAQs-redacted-quote]

I didn't want FOX News to lose $800 million.

I wanted FOX News to lose $1.6 billion and spend a month and a half being publicly and legally dragged through the mud to the point their brand is unsalvageable and they have to shut down for good.

[LFAQs-redacted-quote]

Which is... funny... because it's well known at this point that Fox News lied their asses off

CableZL posted...

Which is... funny... because it's well known at this point that Fox News lied their asses off

Some people don't care

Strider102 posted...

Some people don't care

Yep. They really don't care if they're being lied to as long as those lies align with what they want to believe.

Absolute bullshit that they settled. They should have taken Fox News to the cleaners.

CableZL posted...

Yep. They really don't care if they're being lied to as long as those lies align with what they want to believe.

Hell we saw that with Trump and they still don't care.

Why did they settle for so little.

Humble_Novice posted...

https://gamefaqs.gamespot.com/a/user_image/1/2/6/AAPVm4AAEZR-.png

https://gamefaqs.gamespot.com/a/user_image/2/8/1/AABhrNAAEWY5.jpg

LightHawKnight posted...

Why did they settle for so little.

It's still ten times what their own company is worth. Directors owe a fiduciary duty to the shareholders to do what is in the company's best interest. Not taking this settlement, which is guaranteed money as opposed to rolling the dice at trial for $1.6 billion, would arguably have been a breach of their duty.

https://twitter.com/palmerreport/status/1648450714728038400?s=46

CableZL posted...

https://twitter.com/palmerreport/status/1648450714728038400?s=46

Correct term is a derivative action. Shareholders cannot sue their own company (cause that would be like suing yourself) so there is no such thing as a "shareholder suit." Instead, shareholders can apply to court for leave to act on behalf of the company and sue those who have wronged the company, including the company's own directors and officers.

god i hope foxnews folds

Geiki_Ganger posted...

Correct term is a derivative action. Shareholders cannot sue their own company (cause that would be like suing yourself) so there is no such thing as a "shareholder suit." Instead, shareholders can apply to court for leave to act on behalf of the company and sue those who have wronged the company, including the company's own directors and officers.

Interesting

Since fox is so willing to settle over their mendacious reporting then why
shouldn't more people sue them? There should be a class action lawsuit

blah blah blah nothing happens

I guess it just goes to show that if you actually believed a lawsuit between two multi-million dollar corporations would be the moral and ethical reckoning of our time, then you might just be a grade-A sucker.

And just in case you think I'm smarmily looking down my nose at anyone, I took a selfie right after I heard about the settlement:

https://imgur.com/rB3hQto

lawl

https://twitter.com/JacobWindrix/status/1648812935379320832?s=20

This is basically what's gonna happen now

I'm sure they'll just say it was a rigged trial and that's why Fox settled

So wait, fox doesnt actually have to pay the settlement costs? Whatever their insurance doesnt cover, they can make us the taxpayers pay for it?!?!?!

[LFAQs-redacted-quote]


Look it up, they can save around 20% of the total and then let their insurance cover the rest.

Fox can take a tax deduction from the settlement, Lever News reports. U.S. tax law allows companies to write off at least some portion of settlement fees as part of the cost of doing business. (There are some exceptions, including for cases involving accusations of sexual harassment or abuse with nondisclosure agreements; Fox News has paid out settlements involving those in the past.)
It is unclear how much Fox will save, though a spokesman confirmed that tax deductibility is at play. Lever News estimated that the company could reap as much as $213 million in tax savings.
In addition, Fox also may deduct their settlement payments for state and local income tax purposes, Rosenthal noted.
Had the case gone to trial and Fox lost, any compensatory and punitive damages it had to pay also would have been tax deductible if it had to pay them out of pocket.
The [compensatory] damages would have related to conduct that Fox engaged in as part of its trade or business. The tax treatment of punitive damages is a little more difficult, but as a general matter those damages would be deductible as well again, because they arose out of conduct that Fox took in connection with its trade or business and for the purpose of protecting its revenue stream that is, to not lose viewers to other outlets promoting election fraud claims, Hellwig said.

Yup

It's pretty common to have insurance companies cover payments for you

Funnily enough Amber Heard had an insurance company that was supposed to pay out to Depp but they sued Amber Heard claiming their agreement was void because Amber Heard lied to them and they won their lawsuit.

So now Amber Heard legit owes Depp $1,000,000 of her own money

LightHawKnight posted...

Why did they settle for so little.

They didn't. Yes they were suing for $1.6 billion but that number is almost always purposely inflated. You never get what you ask for. But you ask big so when it ultimately gets reduced its a big number.

So Dominion was never getting the $1.6 billion regardless of it going to trial or not.

But let's say they took it to trial anyway because they thought they could get more than $787 million. First there is a chance they could lose. That's a lot of money to leave up to chance, even if the chance is small. But let's say they did win and were awarded $1 billion. Well Fox is going to appeal it. That money could be tied up in appeals for years. By settling, Dominion still gets a lot of money and it gets it right now.

Remember, Dominion didn't do this to take down Fox or save democracy or anything altruistic. They did this to restore their brand and cash a fat check.

LightHawKnight posted...

Look it up, they can save around 20% of the total and then let their insurance cover the rest.

Fox can take a tax deduction from the settlement, Lever News reports. U.S. tax law allows companies to write off at least some portion of settlement fees as part of the cost of doing business. (There are some exceptions, including for cases involving accusations of sexual harassment or abuse with nondisclosure agreements; Fox News has paid out settlements involving those in the past.)
It is unclear how much Fox will save, though a spokesman confirmed that tax deductibility is at play. Lever News estimated that the company could reap as much as $213 million in tax savings.
In addition, Fox also may deduct their settlement payments for state and local income tax purposes, Rosenthal noted.
Had the case gone to trial and Fox lost, any compensatory and punitive damages it had to pay also would have been tax deductible if it had to pay them out of pocket.
The [compensatory] damages would have related to conduct that Fox engaged in as part of its trade or business. The tax treatment of punitive damages is a little more difficult, but as a general matter those damages would be deductible as well again, because they arose out of conduct that Fox took in connection with its trade or business and for the purpose of protecting its revenue stream that is, to not lose viewers to other outlets promoting election fraud claims, Hellwig said.

UnfairRepresent posted...

Yup

It's pretty common to have insurance companies cover payments for you

Funnily enough Amber Heard had an insurance company that was supposed to pay out to Depp but they sued Amber Heard claiming their agreement was void because Amber Heard lied to them and they won their lawsuit.

So now Amber Heard legit owes Depp $1,000,000 of her own money

Is it confirmed that Fox's insurance will pay the full settlement amount?

RE the tax write off - while financially it does represent a lesser total amount (the still have to pay the full amount to Dominion but pay less overall taxes), I've seen it pointed that the settlement and upcoming Smartmatic suit are expected to erase the complete revenue of the past year (Fox made 1.2 billion, current settlement is .7 billion, tax write off likely to put it at .5 billion). Something that erased a year's worth of revenue and sets a legal precedent for it happening again almost mandates changes in the business approach.

A bit long (8 min) but this video explains it better-

https://www.youtube.com/watch?v=w0DwlABAeVs