Here’s a bit of business news viewers won’t find on the Fair and Balanced network.
Fox News’ parent company shelled out $ 10 million to settle pending and potential lawsuits stemming from allegations of sexual harassment at the embattled network, according to a Securities and Exchange Commission filing.
And that’s just for the first quarter of this year.
The $ 10 million payout is just a portion of $ 45 million 21st Century Fox paid to settle sexual harassment cases over a nine-month period ending March 31.
That amount does not include the money Fox shelled out on behalf of axed anchor Bill O’Reilly. Nor does it include the $ 25 million Fox was estimated to have paid O’Reilly in a severance package after he was dropped from his nightly amid sexual harassment complaints and lawsuits.
O’Reilly and the network reached settlements last month with five women who complained about sexual harassment or other inappropriate behavior by the news host.
The settlements related to O’Reilly totaled nearly $ 13 million, most of which was paid by the host.
But that was after the company had already paid out $ 10 million in sexual harassment settlements between January and March.
Still, the company that once aired O’Reilly’s “No Spin Zone” segment, found a positive way to spin this disclosure.
“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,” Fox’s SEC report said.
“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.”
A Fox spokeswoman did not immediately respond to a request for comment.