As a publicly held company, they have a fiduciary responsibility to their share holders. Fox News, as its name suggests, sells itself to share holders as a news organization. When they repeatedly present easily fact checked conspiracy theories as news, they open themselves up to lawsuits that damage the value of the organization and therefor cost the shareholders money.
Fox News is being sued for violating their fiduciary duty to their shareholders by failing to do basic due diligence in making sure that their reporting is honest and accurate, something every other major news organization does. News organizations do this because failing to due so can lead to lawsuits that can cost millions of dollars. Fox allowed and even encouraged, I believe, on air personalities to repeatedly make false claims about Dominion Voting Systems. That action led to Fox being sued for $2.7 billion. Fox recently settled that suit for $787.5 million. That is a huge hit to their shareholders. Fox also promoted the same falsehoods against another company, Smartmatic. Smartmatic is also suing Fox for $2.7 billion dollars and their is little reason to think that suit will end any better for Fox News than the Dominion suit did.
As a publicly held company, they have a fiduciary responsibility to their share holders. Fox News, as its name suggests, sells itself to share holders as a news organization. When they repeatedly present easily fact checked conspiracy theories as news, they open themselves up to lawsuits that damage the value of the organization and therefor cost the shareholders money.
Fox News is being sued for violating their fiduciary duty to their shareholders by failing to do basic due diligence in making sure that their reporting is honest and accurate, something every other major news organization does. News organizations do this because failing to due so can lead to lawsuits that can cost millions of dollars. Fox allowed and even encouraged, I believe, on air personalities to repeatedly make false claims about Dominion Voting Systems. That action led to Fox being sued for $2.7 billion. Fox recently settled that suit for $787.5 million. That is a huge hit to their shareholders. Fox also promoted the same falsehoods against another company, Smartmatic. Smartmatic is also suing Fox for $2.7 billion dollars and their is little reason to think that suit will end any better for Fox News than the Dominion suit did.