Fox News is in disaster mode — and will pay up to make lawsuits go away quickly: expert
Fox News has agreed to a $787 million settlement with Dominion Voting Systems to avoid having to put their top executives and cable personalities on the stand about the network's election conspiracy theories — and this week, they unceremoniously fired primetime host Tucker Carlson, who had promoted election denial to millions of people.
But their problems are far from over, and they face additional lawsuits on the horizon. Jeffrey Sonnenfeld, the Senior Associate Dean for Leadership Studies at the Yale School of Management, walked through their deeply vulnerable state in a guest appearance on CNN.
"How much of this is still Rupert Murdoch?" asked CNN anchor Erin Burnett.
"It definitely is a Foxenstein Monster; he's lost control and he's very worried," said Sonnenfeld. "The Smartmatic case that is coming up, the shareholder lawsuits, are going to put him very much on the hot seat. So he's going to want to settle, even though the damages might not be so high in terms of actual damages. What they have is the fear factor — they don't want the humiliation, so they're going to pay high, like they just did with Dominion. They've halfway wiped out their profits this year."
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"It's incredible, right?" chimed in Burnett. "You already said, a record, $787 million."
"I don't think they can get insurance anymore, as a matter of fact, because even Elon Musk has to self-insure his own board of directors," added Sonnenfeld. "Certainly Rupert Murdoch's going to have trouble insuring his directors, who also face liability."
Watch the segment below or at this link.
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