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Fox Corp. said it swung to a $50 million loss last quarter from a $290 million profit the year before mostly due to the cost of a legal settlement with Dominion Voting Services.

Fox CEO Lachlan Murdoch says Fox Corp. is in a good place despite the ongoing WGA strike given its mix of programming.

Brian Steinberg Senior TV Editor The costs of settling a closely scrutinized defamation lawsuit levied by Dominion Voting Systems wiped out profit at Fox Corp., spurring a loss of more than $50 million in its third fiscal quarter despite seeing increases in revenue from advertising and distribution. The costs of setting the suit — Fox agreed to pay $787.5 million to settle claims that Fox News personalities had deliberately passed along erroneous information about Dominion’s role in the 2020 presidential election — that it offset a 43% gain in advertising during the quarter due to Fox’s broadcast of Super Bowl LVII, typically an event that boosts corporate performance year in and year out. Fox posted a loss of $54 billion, compared to profit of $283 billion in the year-earlier period. It attributed the loss to “charges associated with legal settlement costs at Fox News Media.”

Joe Otterson TV Reporter Tubi founder and CEO Farhad Massoudi is stepping down as Fox Corporation is forming the Tubi Media Group led by Paul Cheesbrough. Massoudi will remain with Tubi through a transition period until the end of June. A new CEO of Tubi Streaming will be announced at a later date. “Our strategic acquisition of Tubi in 2020 established a cornerstone in our digital streaming strategy, which under Paul and Farhad’s leadership has driven record growth and is now the clear market leader in AVOD in the US,” said Lachlan Murdoch, executive chair and CEO of Fox Corp. ““Building off this momentum, and complementing the strong growth being driven in our company wide digital revenues, now is the right time to bring these efforts together into a new business unit which will be tasked with spearheading our digital expansion and partnering with our brands to drive continued growth.”

Brian Kilmeade will host Fox News Tonight on Monday and is expected to address the exit of Tucker Carlson from the network.

Fox Corp. CEO Lachlan Murdoch is dropping his defamation claimagainst Australian news site Crikey over a column that connected him to the January 6th attack on the Capitol.

Fox looks set to weather a massive payout to settle its case with Dominion Voting System. It has $4 billion in cash and generates significant free cash flow annually. The $787.5 million hit, one of the largest defamation settlements ever, isn’t likely to disturb Fox News profits.

Brian Steinberg Senior TV Editor The greatest show Fox News may ever put on is about to start. Imagine a Fox News program that utilizes the talents of the no-nonsense news anchor Bret Baier along with those of the opinion host Tucker Carlson. One that also puts anchor “The Five” mainstays Dana Perino and Jeanine Pirro into the mix, along with business anchor and commentator Maria Bartiromo. One that features possible appearances by Fox News executives like Suzanne Scott, the CEO of the operation, and Jay Wallace, its top news executive. A program that tops it all off with a potential cameo by Rupert and Lachlan Murdoch, two of the controlling shareholders of Fox News’ media-conglomerate parent, Fox Corporation.

$57 billion last year. That was due to a 38% drop in Amazon’s stock price as of March 10.Known as the legendary Jack Warner Estate after the former president of Warner Bros.

Jennifer Maas TV Business Writer Rupert Murdoch and Lachlan Murdoch could be called upon to testify in Dominion Voting Systems’ defamation lawsuit suit against Fox News and Fox Corp., per a Delaware judge who says he is not against calling upon the media moguls. If the attorneys for Dominion issue trial subpoenas to force a testimony from the Fox leaders, Delaware Superior Court Judge Eric Davis said at a public hearing Wednesday he, “would not quash it and I would compel them to come,” per NBC News. “It would be my discretion that they come,” Davis said. Dominion’s attorneys requested in a letter to the court Wednesday that live testimony be required from Rupert and Lachlan Murdoch, as well as Fox board member and former House Speaker Paul Ryan and Fox exec Viet Dinh. Davis approved the request to compel each of them to testify, according to NBC News.

Rupert Murdoch, Lachlan Murdoch, Fox Corporation board member Paul Ryan and Fox Corp. executive Viet Dinh can be compelled to testify in Dominion’s upcoming defamation trial against Fox News, a judge said on Wednesday.

Brian Steinberg Senior TV Editor Fox News is about to have one of its biggest events in years, and everyone from CEO Suzanne Scott to prominent anchors like Tucker Carlson and Maria Bartiromo to primetime chief Meade Cooper is likely to attend some part of it. If Fox’s parent company has its way, however, Rupert Murdoch, the guiding force behind much of Fox Corporation, will not. Starting as soon as April 17, Fox Corp. could square off in the Superior Court of the State of Delaware and face allegations of defamation from Dominion Voting Systems in a whopping $1.6 billion-dollar suit that is sure to generate headlines. Before any of that can start, however, the two sides appear to locked in a battle over whether the Fox Corp. executive chairman, and his son, CEO Lachlan Murdoch, should be present in court to give testimony.

Dominion Voting Systems’ upcoming defamation trial against Fox News and Fox Corp., scheduled to begin on April 17, may very well feature a parade of the network’s news personalities taking the stand, with both sides in the case planning to call figures including Tucker Carlson, Sean Hannity and Bret Baier.

Brian Steinberg Senior TV Editor The battle for cable-news viewers is coming to March Madness. CNN intends to run a new promo during the heavily watched NCAA men’s basketball tournament that throws a sharp verbal elbow at Fox News Channel and the legal defamation case filed against it by Dominion Voting Systems. The promos will air starting this weekend on TNT, TBS, TruTV and CBS, all of which carry the games under a joint rights agreement held by the owners of those networks, Paramount Global and Warner Bros. Discovery, which is also the parent of CNN. Fox News Channel is not mentioned in the promo script, reviewed by Variety, but the references are clear. “What should you expect of a news network?” asks the narrator. “Some bury the truth, while we fight to reveal the facts. The only side we are on is yours.” Viewers see images of CNN correspondents and anchors such as Abby Phillip and Clarissa Ward.

Brian Steinberg Senior TV Editor Everything seems like it’s going great at Fox Corporation, except for the fact that everything seems like it isn’t. While speaking at an investor conference Thursday, Fox Corp. CEO Lachlan Murdoch praised his family’s decision to sell off a large swath of cable and studio assets to Walt Disney Co. in 2019, a move that left Fox significantly smaller and focused largely on live TV, mainly news and sports. He even brought up a reference to the 1979 comedy “Monty Python’s Life of Brian,” in which a small combatant unencumbered with armor or muscle is able to survive a colosseum fight after his larger opponent suffers a heart attack. “We are the little guy,” said Murdoch. “We are going to be the one that survives.”

Lachlan Murdoch, in his first public comments about a defamation lawsuit against Fox News that’s been grabbing headlines, said he believes the network is even handed and the “noise” is more reflective of the nation’s divided politics than anything else.

Brian Steinberg Senior TV Editor Someone has to handle the truth. In the 1992 legal drama, “A Few Good Men,” a senior military commander played by Jack Nicholson is asked over and over if he ordered a “code red,” or an off-the-books dictate that sent underlings scurrying to do something they probably should not have done. Rupert and Lachlan Murdoch and many of the top executives and anchors at Fox News Channel may feel like they are stuck in a reboot of that film. In a remarkable series of depositions that have been made available from much-scrutinized litigation between voting-technology company Dominion Voting Systems and Fox Corporation, top officers at Fox and its most lucrative subsidiary, Fox News Media, are grilled over whether they have direct responsibility for stories, talent and reporting that airs on Fox News Channel or Fox Business Network. In many instances, the executives say they do not.

deposition he gave last month that he knew Fox News Channel was spreading false claims about the 2020 presidential election. Claims that Dominion voting machines were compromised are the basis of a $1.6 billion defamation lawsuit by Dominion Voting Systems. Darcy said Murdoch’s deposition will be detrimental to the channel, especially the case goes to trial.“It will be devastating for Fox, I mean this is a taste of what’s to come. Imagine Rupert Murdoch on the stand, Lachlan Murdoch on the stand, Sean Hannity on the stand, Tucker Carlson on the stand,” said Darcy. “This will be weeks and weeks of damning headlines, which could really damage Fox’s brand.

The Lachlan and Sarah Murdoch Foundation has announced they will donate $1 million to fund Sydney’s Queer museum Qtopia.During her speech commemorating the opening, Sarah Murdoch said, “Today, I’m announcing that Lachlan and I, through the Lachlan and Sarah Murdoch Foundation, will donate a million dollars to Qtopia Sydney.”She continued, “I am here as a supporter and advocate for Qtopia to be realised.“I hope our donation will encourage many more corporates, foundations, and families to invest in what will be an amazing institution. An institution that not only protects, respects, and extends the quality of future Queer lives, but saves the lives of many young Australians.”Lord Mayor Clover Moore spoke about the importance of the day.“There’s a lot to celebrate today, as many of us think about the sadness of the 90s, and it’s a significant day for Sydney’s community as the LGBTQIA+ realises, a long-held aspiration.”She went on to thank the Lachlan and Sarah Murdoch Foundation, “I want to thank Sarah and Lachlan Murdoch for their contribution,” she said.

Brian Steinberg Senior TV Editor The Super Bowl is over. The path to the next one is just beginning. Before most football fans put the Kansas City Chiefs’ 38-35 defeat of the Philadelphia Eagles in Super Bowl LVII behind them, Paramount Global wants to get them to look ahead to the next big NFL spectacular. CBS and various cable networks owned by Paramount Global will Monday evening air a new promo for CBS Sports’ coverage of Super Bowl LVIII in 2024. The spot shows a CBS Sports bus hitting the road on its way to cover the event, scheduled to be broadcast on both CBS and Paramount+ on February 11, 2024, from Allegiant Stadium in Paradise, Nevada (one has to assume the bus will take the scenic route, given the substantial time frame). A song from Green Day plays in the background.

Rupert Murdoch’s News Corp., home to media properties including the Wall Street Journal, Dow Jones and HarperCollins, announced as it released disappointing quarterly results that it is laying off 5% of its workforce.

Fox will be actively pursuing M&A opportunities now that it won’t be merging with News Corp.

Tom Brady told Fox Sports Colin Cowherd on the air this this morning that he will begin his job as broadcaster at Fox during the 2024 NFL season. He spoke about the importance of processing all he’s been through as a reason for taking a gap year.

Rupert Murdoch is scheduled to be deposed today and Friday in Dominion Voting Systems’s $1.6 billion defamation lawsuit against Fox News over its amplification of claims that the company was involved in rigging the 2020 presidential election.

President Joe Biden once again gave a speech warning of the future of democracy, keying in on some GOP candidates’ refusal to commit to accepting the election results.

Fox Corp. CEO Lachlan Murdoch declined to directly address deliberations about a potential reunion with corporate sibling News Corp. during Fox’s quarterly earnings call, but he readily acknowledged the importance of scale in the media business.

Jennifer Maas TV Business Writer Rob Wade has been promoted to CEO of Fox Entertainment following the exit of former chief Charlie Collier. “Since the formation of Fox Entertainment, Rob has been an integral part of the leadership team responsible for delivering on its long-term strategy of creating an independent media company built on broadcast, developing an owned content portfolio and maintaining a disciplined in-house infrastructure,” Fox Corp. executive chief and CEO Lachlan Murdoch said in a statement Thursday. “Given Rob’s sharp creative instincts and proven operational acumen, he is well-suited to lead Fox Entertainment in what promises to be an exciting next chapter in its rich history.”

EXCLUSIVE: Fox’s reality supremo Rob Wade has been elevated to CEO of Fox Entertainment.