Obscene $787.5 Million Settlement With Fox News 'Turns Dominion Into Private Equity Gold'Chris Menahan
Apr. 19, 2023
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"This is What AI Thinks of Us."
A private equity firm run by "veterans of The Carlyle Group" which bought a 76% stake in Dominion Voting Systems for only $38 million in 2018 is cashing in massively on Dominion's $787 million settlement with Fox News.
From Axios, "Fox News settlement turns Dominion into private equity gold":
Staple Street Capital bought Dominion Voting Systems in 2018, with a $38 million equity check and an $80 million enterprise value. It might have been the best private equity deal ever.
- In terms of revenue, Forbes once reported that Dominion generated $118.3 million for the three-year period between 2017 and 2019.That's the same line one of Dominion's lawyers fed to CNN.
Reuters has more:
In one of the court filings, Fox cited a December 2020 text from a former Staple Street employee to a current executive that proved prescient.Our justice system has become a joke.
[Header image by Ajay Suresh via Flickr, CC BY 2.0]
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