Fox News parent 21st Century Fox paid out $45 million to settle pending and potential litigation over the nine months, ending March 31, the company announced Wednesday in its quarterly report.
The mammoth bill came after former Fox News Chairman and CEO Roger Ailes resigned from the company in July after former anchor Gretchen Carlson filed a sexual harassment lawsuit against the combative cable boss. More allegations followed, and Carlson settled with the network for $20 million — a number that is certainly part of that $45 million in settlement costs.
Last month, Fox News’ ratings king Bill O’Reilly was fired from the network after The New York Times reported that Fox News had paid out $13 million in settlements related to lawsuits filed against the host.
But while the $45 million number may be eye-popping, Fox said it doesn’t expect the settlements to have a “material” effect on its business.
“To date, none of the amounts paid in settlements or reserved for pending or future claims, is individually or in the aggregate, material to the Company,” the filing said. “The Company has also received regulatory and investigative inquiries relating to these matters and stockholder demands to inspect the books and records of the Company which could lead to future litigation.
“Due to the early stage of these matters, the amount of liability, if any, that may result from these or related matters cannot be estimated at this time. However, the Company does not currently anticipate that the ultimate resolution of any such pending matters will have a material adverse effect on its consolidated financial condition, future results of operations or liquidity.”
Deadline Hollywood first reported the news.