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Fox has reached a $787.5 million (£633.6m) settlement in a defamation lawsuit with voting machine company Dominion.
Dominion Voting Systems had asked for $1.6 billion (£1.3bn) in arguing that Fox had damaged its reputation by helping peddle false conspiracy theories about its equipment switching votes from former President Donald Trump to Democrat Joe Biden.
Fox said the amount greatly overstated the value of the Colorado-based company.
An attorney for Dominion confirmed the multimillion-dollar settlement figure on Tuesday.
“The truth matters. Lies have consequences,” Dominion lawyer Justin Nelson said in a news conference outside the courthouse after the announcement.
The judge overseeing the lawsuit earlier announced that the parties “have resolved their case” and dismissed the jury, just as the trial was to begin.
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