The Dominion Settlement
Reagan, when asked about his strategy for winning the Cold War, responded with his straightforward philosophy, “We win, they lose.” The reporter persisted for more details, but Reagan simply repeated himself, leaving no room for ambiguity. “We win, they lose,” he reiterated. The reporter, still unsatisfied, queried further, but Reagan responded with finality, “I think that pretty much sums it up.” In this regard, we recommend perusing the Time Magazine article titled “The Dominion Settlement Is Just the Beginning of Fox and Rupert Murdoch’s Nightmare.” The article delves into the recent settlement between Dominion Voting Systems and Fox News, regarding false claims propagated by the network during the 2020 U.S. Presidential election.
Although the $787.5 million settlement between Fox News and Dominion Voting Systems regarding allegations of defamation is significant, it is just the start of Fox’s troubles. The settlement has left the company with a corporate governance catastrophe, punctured business bravado, and an impending nightmare that will continue to haunt the company and its patriarch, Rupert Murdoch.
In addition to discussing the Dominion settlement, Anderson Cooper 360 featured Jeffrey Sonnenfeld, who offered valuable insights into the mounting crisis that Fox and Rupert Murdoch are facing. The record-breaking $787.5 million settlement is only the beginning of their troubles. You can watch the full conversation by clicking on this link.
New York (RichTVX.com) —
The settlement is a remarkable win for Dominion, a young company that is less than 1% the size of Fox, sold to private equity investors for around $40 million in 2018. The settlement amounts to more than eight times the company’s revenue last year of $98 million, a massive 5000% boost in earnings, assuming a 20% profit margin. Despite being six times larger than the previous record for a defamation settlement, Fox’s woes are just beginning. The judge’s conclusive remarks will serve as legal fact for future litigants, and the depositions of Fox anchors and executives, admitting their stories were false and sources were ludicrous, will open Fox’s board to serious claims of negligence and breaches of fiduciary duty.
Jeffrey Sonnenfeld is a highly respected American academic and author, serving as the Senior Associate Dean and Lester Crown Professor in Management Practice at the Yale School of Management. He is also the President of the Yale Chief Executive Leadership Institute (CELI), dedicated to advancing global leadership practices. Sonnenfeld is a prominent expert in corporate governance, leadership development, and CEO succession planning, authoring various articles, books, and case studies. His work has been published in prominent publications such as The New York Times, The Wall Street Journal, and Fortune.
It is worth noting that Steven Tian, who serves as the Director of Research at the Yale Chief Executive Leadership Institute and a former investment analyst at Rockefeller Capital, is an indispensable member of Sonnenfeld’s team. Tian’s extensive experience in investment analysis and research makes him a valuable asset to CELI.
Stay connected to the grid with Rich TVX News