Rupert Murdoch’s Fox News Settles $787.5M Lawsuit with Dominion Voting Systems, More Trouble Ahead

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Rupert Murdoch’s News Corporation ($NASDAQ:NWSA), parent company to Fox News, recently settled a $787.5MILLION lawsuit brought by Dominion Voting Systems. Although the settlement may be a relief to Murdoch and Fox News, this may be the tip of the iceberg. Several other voting-technology companies are actively considering legal action against Murdoch and News Corporation for their role in spreading false claims about election fraud. News Corporation is a global media and entertainment company that is headquartered in New York City.

The company is one of the world’s largest media conglomerates and owns iconic properties such as Fox News, The Wall Street Journal, The Sun, and HarperCollins. In addition to its traditional media properties, it also has a strong presence in the digital media space, with investments in video streaming services, online media platforms, and more. The company’s stock (NWSA) is publicly traded on the NASDAQ exchange.

Stock Price

The case was settled out of court and the terms of the settlement have not been disclosed. The news of the settlement came as NEWS CORPORATION stock opened at $17.2 and closed at $17.4, up by 0.8% from its prior closing price of 17.3. Although the settlement will help Rupert Murdoch’s Fox News Network avoid further legal troubles, analysts say that this could be just the tip of the iceberg when it comes to future legal action against Fox News and its parent company. The settlement may put an end to this particular case, but still more legal troubles could be ahead for Rupert Murdoch and his company. Live Quote…

About the Company

Income Snapshot

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Cash Flow Snapshot

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Balance Sheet Snapshot

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Key Ratios Snapshot

Some of the financial key ratios for News Corporation are shown below. More…

Analysis

GoodWhale conducted an analysis of NEWS CORPORATION‘s wellbeing. Our research revealed that NEWS CORPORATION was classified as an ‘elephant’, denoting a company which is rich in assets after deducting off liabilities. This type of company may be of interest to investors who are looking for a safe and secure long-term investment. NEWS CORPORATION’s health score was 8/10, considering its cashflows and debt. This indicates that the company is well-equipped to sustain future operations even in times of crisis. However, our analysis showed that the company was strong in liquidity, medium in asset, and weak in dividend, growth, and profitability. More…

Peers

The company was founded by Rupert Murdoch in 1979. News Corp is headquartered in New York, New York. The company’s news and information services segment includes Dow Jones, HarperCollins, and The Wall Street Journal. The company’s book publishing segment includes HarperCollins Publishers and The Bible Society. The company’s digital real estate services segment includes Move, Inc. and Realtor.com. The company’s other segment includes Foxtel and Sky Deutschland.

– Gannett Co Inc ($NYSE:GCI)

Gannett Co Inc is a publicly traded media holding company headquartered in Tysons, Virginia, United States. It is the largest U.S. newspaper publisher as measured by total daily circulation. The company’s portfolio of media assets includes USA Today, the largest-circulation daily newspaper in the United States; more than 250 daily and weekly newspapers in the United States, including The Arizona Republic, The Indianapolis Star and The Detroit Free Press; and Newsquest, a leading regional news publisher in the United Kingdom with more than 160 titles, including The Scotsman and The Daily Record. Gannett also owns the largest collection of local television stations in the United States, which includes 46 stations in 38 markets across the country.

– New York Times Co ($NYSE:NYT)

The New York Times Company is a leading media organization with a market capitalization of $4.9 billion and a return on equity of 10.7%. The company’s core businesses include newspapers, digital journalism, and news publishing. Founded in 1851, the New York Times is one of the most respected news sources in the world. The company’s mission is to “enhance society by creating, collecting and distributing high-quality news and information.”

– Pearson PLC ($LSE:PSON)

Pearson PLC is a British multinational publishing and education company headquartered in London. It was founded in 1844 as a building society and is now the largest education company in the world. Pearson PLC has a market cap of 6.43B as of 2022 and a Return on Equity of 5.41%. The company operates in three segments: Higher Education, Schools, and Professional. Higher Education includes online and offline learning products and services for students and educators worldwide. Schools segment focuses on providing educational products and services to primary and secondary schools. Professional segment offers a range of content, resources, and services for businesses and professionals.

Summary

News Corporation, the media conglomerate controlled by Rupert Murdoch, has recently spent $787.5 million to settle a trial with Dominion Voting Systems. This hefty sum could reflect an attempt to protect their reputation and future investments, as their involvement in election technology has reportedly been scrutinized. Nevertheless, News Corporation is still a major financial force to be reckoned with as it provides shareholders with a mix of diversified assets, including cable networks, publishing, and television broadcasting. Its impressive portfolio of assets is likely to continue to generate returns in the long-term, making it a potentially attractive option for investors.