Insurance Claim, Tax Deduction, Fox Will Unlikely Have To Pay Full $787.5M Settlement In Cash

  • Fox Corp. recently reach a $787.5 million settlement with Dominion Voting Systems over defamation charges but the major media company will unlikely have to payout the entire sum in cash.
  • Fox can defray at least some of the cost primarily through insurance and tax deductions.
  • Fox can deduct the settlement from its income taxes as an expense necessary for the cost of doing business, and Fox Chief Communications Officer Brian Nick has confirmed to the Associated Press the deductibility of the settlement.