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I haven’t seen any analysis of the settlement that takes up the basis of Dominion’s damages claim. The question is complicated by the fact that Dominion was taken private by Staple Street Investors in 2018. It is not a public company.
The Reuters story linked above reports:
Even before Tuesday’s settlement, Staple Street’s investment in Dominion had been successful. Fox said in a court filing that Dominion was valued at around $226 million in the run-up to the 2020 election, citing exhibits it did not make public. That was up from the $80 million valuation when the acquisition of Dominion was clinched in 2018.
The Reuters story notes that “Staple Street’s previous investments include theme park operator Six Flags Entertainment Corp (SIX.N)” (you can’t make this stuff up) and concludes with this illuminating observation:
In one of the court filings, Fox cited a December 2020 text from a former Staple Street employee to a current executive that proved prescient.
“Would be pretty unreal if you guys like 20x’ed your Dominion investment with these lawsuits,” the text read.
I think “unreal” is the operative word. Those numbers reflect the value of the entire company. The settlement paid by Fox appears to represent the value of Dominion several times over (“like 20x”).
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There Is Something Really, Really, Really, Really Really Wrong With The Official News Story Of The Fox News Settlement
The Dominion vs. Fox News lawsuit was fishy from day 1.
Why would Dominion file suit knowing that in the process of discovery, it would be revealed l that Dominion had doubts about the security of their voting machines?
Why would Dominion sue Fox News after Fox immediately fired the only correspondent who broached the subject of election fraud?
Why would Fox settle their suit when internal texts reveal that their marquee talkers badmouthed Sidney Powell and others who advanced the very premise of election fraud? If anything, Fox News went above and beyond to shield Dominion. The most embarrassing aspects of the case for Fox News is the low regard they have for their viewers and their willingness to turn a blind eye to ALL evidence of election irregularities.
We have linked elsewhere to a post that also questions the numbers. Fox News “settled” for somewhere between 4x and 40x the value of Dominion Voting Systems?
If I were a Fox News stockholder, I would talk to someone knowledgeable about legal malpractice as well as management’s failure to uphold fiduciary responsibility. But of course, I am not a Fox News stockholder. Fox News sucks.
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