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.
On Tuesday, Fox settled with Dominion over charges that Fox News baselesslyagainst former President Donald Trump in 2020. It was the most-watched media libel case in decades.
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.
“It’s not hard to stack up $100 million but as you go higher than that, it gets harder and harder,” Milton said. And media companies and insurers don’t always agree on who should cover what, since there are caveats written into contracts that allow insurers to avoid paying under certain circumstances. In 2012, Disney settled a defamation suit after ABC aired a segment that questioned the safety of a meat producer’s products that critics dubbed “pink slime.” But one of its insurers, AIG, ended up suing Disney so they wouldn’t have to pay part of the settlement, although AIG eventually lost.
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