Dominion CEO John Poulos told reporters outside court that Fox “admitted to lying about Dominion that caused enormous damage to my company, our employees and our customers. Nothing can compensate for that.”
The proceedings, hailed by The New York Times as “the defamation trial of the century”, were meant to test the limits of free speech rights for media in the US for intentionally disseminating false information.
Analysts predicted that it could be one of the most consequential libel hearings in American legal history.
The settlement, which is believed to be one of the largest defamation cases ever, means star anchors like Tucker Carlson and Sean Hannity will also be barred from appearing on the witness stand.
US media reported that the agreement does not require Fox hosts to apologize on-air or admit to spreading lies.