By Catherine Thorbecke, Mike Hayes, Maureen Chowdhury, Marshall Cohen, Oliver Darcy, Jon Passantino, Elise Hammond and Tori B. Powell, CNN
From CNN’s Oliver Darcy
Fox News anchors will not have to acknowledge on-air that it told election lies about Dominion Voting Systems as part of the terms of its settlement, a representative for the election technology company told CNN.
Fox News did acknowledge in its statement that falsehoods were broadcast.
But top anchors at the right-wing talk channel will not be required as part of the settlement to acknowledge on air the lies broadcast in the wake of the 2020 election.
From CNN's Jon Passantino
“Fox has admitted to telling lies about Dominion," said the company CEO John Poulos on Tuesday, following the last-minute $787.5 million settlement with the right-wing network.
"Fox and Dominion have reached a historic settlement. Fox has admitted to telling lies about Dominion that caused enormous damage to my Company, our employees, and our customers. Nothing can ever make up for that," Poulos said in the statement. "Throughout this process, we have sought accountability and believe the evidence brought to light through this case underscores the consequences of spreading and endorsing lies."
From CNN's Jon Passantino
Smartmatic, the voting technology company that is suing Fox News for $2.7 billion for defamation said its pending case will further expose wrongdoing by the right-wing network, following the last-minute settlement in the case brought by Dominion Voting Systems.
“Dominion’s litigation exposed some of the misconduct and damage caused by Fox’s disinformation campaign. Smartmatic will expose the rest. Smartmatic remains committed to clearing its name, recouping the significant damage done to the company, and holding Fox accountable for undermining democracy," said a statement from Smartmatic attorney J. Erik Connolly.
From CNN’s Liam Reilly and Laura Dolan
The settlement for more than $787 million with Fox News represents “a ringing endorsement for truth and accountability,” the attorney representing Dominion Voting Systems said Tuesday.
“The truth matters. Lies have consequences,” said Justin Nelson of the Susman Godfrey law firm at a news conference outside the courthouse.
Nelson said that more than two years ago a “torrent of lies” had swept Dominion and election officials across America, causing “grievous harm to Dominion and the country.”
Nelson also said the country must “remain ever vigilant to find common ground.”
“For our democracy to endure for another 250 years and, hopefully much longer, we must share a commitment to facts,” Nelson added.
Analysis From CNN's Elie Honig
The $787.5 million settlement in the Fox-Dominion case is an unequivocal rebuke of the right-wing news network and its journalism, said Elie Honig, former assistant US attorney for the Southern District of New York.
"Translated it means we got caught lying by the judge – and I think that's exactly why we are seeing this absolutely jaw-dropping number," Honig told CNN's Jake Tapper.
Although the amount is about half of what Dominion was asking for, it's still an astonishing sum, he said.
"I didn't think there was any way they would get $1.6 billion – even when they proved their case, even if they proved it overwhelmingly to a jury. Let's remember, by its own estimation, Dominion valued the entire company at somewhere between $30 and $80 million. This settlement is 10 times the value of Dominion as an entire company. That's how strong a statement this is with this number," Honig explained.
From CNN's Marshall Cohen
Dominion Voting Systems still has pending lawsuits against right-wing networks Newsmax and OAN, as well as against Trump allies Rudy Giuliani, Sidney Powell and Mike Lindell.
All of these parties and entities deny wrongdoing and are fighting the lawsuits.
From CNN's Nicki Brown
Following the announcement of a $787.5 million dollar settlement in the Fox News-Dominion case, John Poulos, the CEO of Dominion Voting Systems, said Fox News "admitted to telling lies" about the company.
"Fox has admitted to telling lies about Dominion that caused enormous damage to my company, our employees, and the customers that we serve," Poulos said.
"Nothing can ever make up for that," Poulos added at a news conference following court.
"I cannot thank the election officials that we serve enough. Without them, there is no democracy," he said.
From CNN's Jon Passantino
Fox News has issued a statement on its settlement with Dominion Voting Systems acknowledging that some of the right-wing network's on-air statements about Dominion were false.
“We are pleased to have reached a settlement of our dispute with Dominion Voting Systems. We acknowledge the Court’s rulings finding certain claims about Dominion to be false. This settlement reflects FOX’s continued commitment to the highest journalistic standards. We are hopeful that our decision to resolve this dispute with Dominion amicably, instead of the acrimony of a divisive trial, allows the country to move forward from these issues," the statement said.
For context: The statement was referring to Judge Eric Davis’ recent ruling that 20 Fox News broadcasts from late 2020 contained blatantly untrue assertions that Dominion rigged the presidential election. But Fox won’t have to admit on-air that it spread lies about Dominion, a Dominion representative told CNN.
From CNN's Nicki Brown
The settlement between Fox News and Dominion Voting Systems totals $787,500,000, according to Dominion attorney Justin Nelson.
The settlement represents "vindication and accountability," Nelson said in a news conference Tuesday afternoon.
"The truth matters, lies have consequences," Nelson said
"Over two years ago, a torrent of lies swept Dominion and election officials across America into an alternative universe of conspiracy theories, causing grievous harm," Nelson added.