In a last-minute deal, US voting technology firm Dominion has settled with Fox News just before their defamation trial was due to begin.
Dominion had sought US $1.6 billion from Fox, arguing the network spread falsehoods about its voting machines in the 2020 presidential election.
The final settlement agreed between both parties was for US $787.5 million.
The deal spares Fox's top executives, such as chairman Rupert Murdoch and anchor Tucker Carlson, from testifying.
In a statement, Fox said the settlement in one of the most anticipated defamation trials in recent US history reflected its "commitment to the highest journalistic standards".
Dominion chief executive John Poulos told a press conference the deal included Fox admitting to telling lies, causing enormous damage to his company.
Source: BBC
