Dominion Voting Systems has spent years building a defamation case towards Fox News (a subset of its parent company, Fox Corp), who allegedly spread false information about Dominion’s voting machines rigging the election by flipping votes for Trump to ones for Biden.
Dominion sued Fox Corp for 1.6 billion dollars, despite the company being valued at no more than 80 million dollars. Tuesday afternoon, before the start of the case, Judge Eric Davis of the Delaware Superior Court announced that the two parties settled the case for $787,500,000, which was still a huge will for Dominion. It was even better for Staple Street Capital.
Chances are, you’ve never heard of such a company. They’re a small private equity firm based in New York. They spent about 39 million dollars for a three-quarter stake in the company, and the settlement is a huge win for them, as it is around 20 times what they invested. And they may be seeing some more money roll in, as Dominion has moved on to sue Newsmax and OAN, two other right-wing networks who also accused Dominion of election-rigging, and went even further than Fox with their conspiracy theories. More lawsuits by Dominion are still underway, namely against those who declared the 2020 election was stolen from Donald Trump such as Rudy Giuliani, Sidney Powell, and Mike Lindell.
But this is not the end of the Fox News Saga. Another company, Smartmatic, also sued Fox for defamation, seeking 2.7 billion in damages. A trial won’t be for some time, but Fox has made their stance clear, denying any misconduct. A spokesperson from Fox stated “We are proud of our 2020 election coverage and will vigorously defend this meritless lawsuit in court,” according to an article by CNN. While no more information about either Dominion’s cases or Smartmatic’s case is available, there is sure to be more to follow soon.
Hello, my name is Luke Fann. I love to read and write myself into a fantastical realm, but I love all genres. Of course, such a task requires assistance from my parents and older brother. I've feasted on alligators and tamed beasts like alpacas (my favorite animal), but none of that compares to my greatest weapon: a pencil. I am an editor here for the City Voice, and this is my second year writing for it.